Quest Partners LLC Increases Stock Holdings in Miller Industries, Inc. (NYSE:MLR)

Quest Partners LLC increased its stake in Miller Industries, Inc. (NYSE:MLR) by 127.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,250 shares of the auto parts company’s stock after acquiring an additional 4,616 shares during the quarter. Quest Partners LLC owned approximately 0.07% of Miller Industries worth $503,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its position in shares of Miller Industries by 2.5% in the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock valued at $452,000 after purchasing an additional 201 shares during the period. Ellsworth Advisors LLC lifted its stake in Miller Industries by 3.6% in the 3rd quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company’s stock valued at $722,000 after buying an additional 411 shares in the last quarter. Point72 DIFC Ltd boosted its holdings in Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after buying an additional 595 shares during the last quarter. Innealta Capital LLC purchased a new stake in Miller Industries during the 2nd quarter worth approximately $39,000. Finally, Kennedy Capital Management LLC raised its holdings in shares of Miller Industries by 2.4% during the first quarter. Kennedy Capital Management LLC now owns 36,707 shares of the auto parts company’s stock valued at $1,839,000 after acquiring an additional 853 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLR has been the topic of a number of research analyst reports. StockNews.com lowered Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of Miller Industries in a research note on Friday, November 15th.

Miller Industries Stock Up 7.0 %

MLR stock opened at $71.93 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $65.06 and a two-hundred day moving average of $61.21. Miller Industries, Inc. has a 12 month low of $38.33 and a 12 month high of $78.25. The company has a market cap of $822.88 million, a price-to-earnings ratio of 11.92 and a beta of 0.94.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, meeting the consensus estimate of $1.33. The firm had revenue of $314.27 million during the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same period in the prior year, the business posted $1.52 EPS. As a group, analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.06%. Miller Industries’s payout ratio is 12.60%.

Miller Industries 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.