Miller Industries, Inc. (NYSE:MLR) Shares Acquired by Algert Global LLC

Algert Global LLC lifted its position in Miller Industries, Inc. (NYSE:MLR) by 348.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,783 shares of the auto parts company’s stock after acquiring an additional 22,359 shares during the period. Algert Global LLC owned 0.25% of Miller Industries worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Miller Industries in the 2nd quarter valued at $39,000. Point72 DIFC Ltd raised its stake 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 valued at $55,000 after purchasing an additional 595 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Miller Industries in the second quarter worth about $200,000. Lakewood Asset Management LLC purchased a new position in Miller Industries in the 3rd quarter worth approximately $250,000. Finally, SG Americas Securities LLC lifted its position in Miller Industries by 84.8% during the third quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock worth $314,000 after buying an additional 2,364 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Miller Industries Trading Up 0.6 %

Shares of MLR stock opened at $74.72 on Thursday. Miller Industries, Inc. has a fifty-two week low of $38.33 and a fifty-two week high of $78.25. The company has a 50 day moving average price of $65.97 and a 200 day moving average price of $61.61. The stock has a market capitalization of $854.80 million, a P/E ratio of 12.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12.

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, hitting the consensus estimate of $1.33. The business had revenue of $314.27 million during the quarter. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. During the same quarter last year, the firm earned $1.52 EPS. Equities research analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently announced 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. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, December 2nd. Miller Industries’s dividend payout ratio (DPR) is presently 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.