Caxton Associates LLP Takes $349,000 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 stake in Miller Industries, Inc. (NYSE:MLR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,232 shares of the auto parts company's stock, valued at approximately $349,000. Caxton Associates LLP owned about 0.07% of Miller Industries as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of Miller Industries by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company's stock valued at $12,160,000 after purchasing an additional 112,925 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Miller Industries by 855.1% in the 1st quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company's stock valued at $6,649,000 after purchasing an additional 140,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Miller Industries by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company's stock valued at $281,000 after purchasing an additional 312 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Miller Industries by 114.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 16,836 shares of the auto parts company's stock valued at $713,000 after purchasing an additional 8,976 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Miller Industries by 41.9% in the 1st quarter. AQR Capital Management LLC now owns 13,019 shares of the auto parts company's stock valued at $552,000 after purchasing an additional 3,846 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company's stock.

Miller Industries Stock Up 3.7%

NYSE MLR traded up $1.47 during trading hours on Thursday, hitting $40.92. 99,187 shares of the company were exchanged, compared to its average volume of 91,930. The company has a 50 day moving average of $42.05 and a two-hundred day moving average of $43.37. The company has a quick ratio of 2.19, a current ratio of 3.32 and a debt-to-equity ratio of 0.13. Miller Industries, Inc. has a 52-week low of $33.81 and a 52-week high of $78.25. The firm has a market cap of $468.95 million, a price-to-earnings ratio of 11.18 and a beta of 1.24.

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

Miller Industries Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research raised Miller Industries to a "strong sell" rating in a research note on Monday, August 11th. DA Davidson cut their price objective on Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Miller Industries has a consensus rating of "Hold" and a consensus price target of $64.00.

Miller Industries Company 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.