Miller Industries, Inc. (NYSE:MLR) Shares Purchased by Point72 DIFC Ltd

Point72 DIFC Ltd grew its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 146.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000 shares of the auto parts company’s stock after acquiring an additional 595 shares during the period. Point72 DIFC Ltd’s holdings in Miller Industries were worth $55,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Voisard Asset Management Group Inc. acquired a new stake in Miller Industries during the 4th quarter valued at approximately $107,000. Virtu Financial LLC bought a new stake in shares of Miller Industries in the fourth quarter worth $233,000. Quadrature Capital Ltd increased its stake in shares of Miller Industries by 90.4% in the fourth quarter. Quadrature Capital Ltd now owns 19,669 shares of the auto parts company’s stock worth $829,000 after buying an additional 9,340 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Miller Industries by 19.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 152,762 shares of the auto parts company’s stock valued at $7,653,000 after acquiring an additional 24,993 shares in the last quarter. Finally, Narwhal Capital Management bought a new position in Miller Industries during the 1st quarter valued at $3,670,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MLR. StockNews.com downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th. DA Davidson started coverage on Miller Industries in a research note on Wednesday. They issued a “buy” rating and a $82.00 price target for the company.

Miller Industries Stock Performance

MLR stock opened at $62.81 on Thursday. The stock’s 50 day simple moving average is $60.64 and its 200 day simple moving average is $57.01. Miller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $69.75. The firm has a market cap of $720.43 million, a P/E ratio of 10.96 and a beta of 0.96. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. The firm had revenue of $371.45 million during the quarter.

Miller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, September 9th. This represents a $0.76 annualized dividend and a yield of 1.21%. Miller Industries’s dividend payout ratio (DPR) is 13.26%.

Miller Industries Company Profile

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.