BNP Paribas Financial Markets Increases Stock Holdings in Miller Industries, Inc. (NYSE:MLR)

BNP Paribas Financial Markets lifted its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,382 shares of the auto parts company's stock after buying an additional 10,526 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.50% of Miller Industries worth $3,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Miller Industries by 58.7% in the third quarter. JPMorgan Chase & Co. now owns 36,963 shares of the auto parts company's stock valued at $2,255,000 after purchasing an additional 13,679 shares in the last quarter. Ellsworth Advisors LLC raised its stake in Miller Industries by 4.2% in the fourth quarter. Ellsworth Advisors LLC now owns 12,334 shares of the auto parts company's stock valued at $806,000 after purchasing an additional 492 shares in the last quarter. SG Americas Securities LLC raised its stake in Miller Industries by 5.2% in the fourth quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company's stock valued at $354,000 after purchasing an additional 270 shares in the last quarter. Redmont Wealth Advisors LLC raised its stake in Miller Industries by 2.3% in the fourth quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company's stock valued at $810,000 after purchasing an additional 282 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Miller Industries in the fourth quarter valued at approximately $36,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Trading Down 2.4%

Shares of MLR opened at $46.15 on Thursday. The firm's 50 day simple moving average is $42.63 and its 200 day simple moving average is $58.52. The company has a market capitalization of $528.83 million, a P/E ratio of 7.65 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. Miller Industries, Inc. has a 1-year low of $37.40 and a 1-year high of $78.25.

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

Miller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Monday, June 2nd. Miller Industries's dividend payout ratio (DPR) is presently 16.99%.

About Miller Industries

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.

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