Balyasny Asset Management L.P. Invests $377,000 in Miller Industries, Inc. (NYSE:MLR)

Balyasny Asset Management L.P. purchased a new stake in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,770 shares of the auto parts company's stock, valued at approximately $377,000. Balyasny Asset Management L.P. owned about 0.05% of Miller Industries as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLR. Royce & Associates LP raised its stake in shares of Miller Industries by 29.8% in the 4th quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company's stock valued at $42,132,000 after buying an additional 148,079 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Miller Industries by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 248,555 shares of the auto parts company's stock valued at $16,246,000 after acquiring an additional 1,511 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Miller Industries by 15.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company's stock worth $11,652,000 after acquiring an additional 24,427 shares in the last quarter. Portolan Capital Management LLC bought a new stake in shares of Miller Industries during the 4th quarter worth about $9,366,000. Finally, Northern Trust Corp boosted its stake in shares of Miller Industries by 5.6% in the fourth quarter. Northern Trust Corp now owns 111,202 shares of the auto parts company's stock valued at $7,268,000 after buying an additional 5,921 shares during the period. Institutional investors and hedge funds own 79.24% of the company's stock.

Miller Industries Price Performance

Shares of MLR traded down $1.28 during midday trading on Wednesday, hitting $44.95. The company's stock had a trading volume of 24,816 shares, compared to its average volume of 108,634. Miller Industries, Inc. has a one year low of $37.40 and a one year high of $78.25. The company's fifty day simple moving average is $42.60 and its two-hundred day simple moving average is $57.88. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $515.07 million, a price-to-earnings ratio of 7.45 and a beta of 1.20.

Miller Industries (NYSE:MLR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.09. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The firm had revenue of $225.65 million for the quarter, compared to the consensus estimate of $224.35 million. As a group, equities analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.78%. Miller Industries's dividend payout ratio (DPR) is currently 16.99%.

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.