SG Americas Securities LLC Purchases 2,364 Shares of Miller Industries, Inc. (NYSE:MLR)

SG Americas Securities LLC increased its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 84.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,153 shares of the auto parts company’s stock after acquiring an additional 2,364 shares during the period. SG Americas Securities LLC’s holdings in Miller Industries were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Miller Industries in the fourth quarter valued at $233,000. Quadrature Capital Ltd raised 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 acquiring an additional 9,340 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Miller Industries by 19.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 152,762 shares of the auto parts company’s stock worth $7,653,000 after purchasing an additional 24,993 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Miller Industries by 62.7% during the first quarter. BNP Paribas Financial Markets now owns 11,762 shares of the auto parts company’s stock valued at $589,000 after purchasing an additional 4,534 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Miller Industries in the first quarter valued at approximately $688,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Price Performance

Shares of MLR stock opened at $64.45 on Friday. The firm’s 50 day moving average price is $60.35 and its two-hundred day moving average price is $58.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. Miller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $69.75. The stock has a market cap of $739.24 million, a PE ratio of 11.25 and a beta of 0.96.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. The business had revenue of $371.45 million during the quarter. As a group, analysts forecast that Miller Industries, Inc. will post 5.6 EPS for the current year.

Miller Industries Announces Dividend

The company 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. This represents a $0.76 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Monday, September 9th. Miller Industries’s payout ratio is 13.26%.

Analysts Set New Price Targets

Several research analysts have issued reports on MLR shares. StockNews.com downgraded Miller Industries from a “buy” rating to a “hold” rating in a report on Wednesday. DA Davidson began coverage on Miller Industries in a report on Wednesday, October 2nd. They issued a “buy” rating and a $82.00 price target on the stock.

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.