Caxton Associates LLP Takes Position in Miller Industries, Inc. $MLR

Key Points

• Caxton Associates LLP acquired 8,232 shares of Miller Industries, valued at approximately $349,000, marking its new position in the auto parts company.
• Miller Industries reported a $0.73 earnings per share for the last quarter, exceeding analysts' estimates of $0.55.
• The company plans to pay a quarterly dividend of $0.20 per share on September 15th, yielding an annualized dividend of 2.0%.

Caxton Associates LLP purchased a new position in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,232 shares of the auto parts company's stock, valued at approximately $349,000. Caxton Associates LLP owned 0.07% of Miller Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of the company. Isthmus Partners LLC increased its holdings in shares of Miller Industries by 93.2% during the first quarter. Isthmus Partners LLC now owns 42,861 shares of the auto parts company's stock valued at $1,816,000 after acquiring an additional 20,677 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of Miller Industries by 21.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 98,994 shares of the auto parts company's stock valued at $4,194,000 after purchasing an additional 17,197 shares in the last quarter. CX Institutional bought a new position in shares of Miller Industries during the first quarter valued at about $120,000. Victory Capital Management Inc. boosted its stake in Miller Industries by 587.3% in the first quarter. Victory Capital Management Inc. now owns 32,187 shares of the auto parts company's stock valued at $1,364,000 after acquiring an additional 27,504 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Miller Industries by 1,894.1% in the 1st quarter. GAMMA Investing LLC now owns 3,051 shares of the auto parts company's stock valued at $129,000 after purchasing an additional 2,898 shares during the period. Institutional investors own 79.24% of the company's stock.

Miller Industries Stock Performance

MLR opened at $39.80 on Friday. The firm has a market cap of $456.13 million, a P/E ratio of 10.87 and a beta of 1.24. Miller Industries, Inc. has a 1-year low of $33.81 and a 1-year high of $78.25. The company has a 50 day simple moving average of $42.50 and a two-hundred day simple moving average of $43.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.19.

Miller Industries (NYSE:MLR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.18. Miller Industries had a net margin of 4.35% and a return on equity of 10.48%. The firm had revenue of $214.03 million during the quarter, compared to analyst estimates of $234.95 million. Equities analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. Miller Industries's dividend payout ratio is 21.86%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MLR. DA Davidson decreased their target price on Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Zacks Research upgraded shares of Miller Industries to a "strong sell" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $64.00.

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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