Charles Schwab Investment Management Inc. Raises Stock Position in Miller Industries, Inc. $MLR

Key Points

• Charles Schwab Investment Management Inc. has increased its holdings in Miller Industries, Inc. by 21.6%, acquiring an additional 20,191 shares during the first quarter.
• Miller Industries recently announced a quarterly dividend of $0.20 per share, with an annualized yield of 1.9%, to be paid on September 15th.
• Analysts have mixed ratings for Miller Industries, with one firm downgrading their target price to $64.00 while others maintain a "Hold" rating.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 21.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,733 shares of the auto parts company's stock after buying an additional 20,191 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.99% of Miller Industries worth $4,819,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MLR. Victory Capital Management Inc. raised its position in Miller Industries by 587.3% during the 1st quarter. Victory Capital Management Inc. now owns 32,187 shares of the auto parts company's stock worth $1,364,000 after buying an additional 27,504 shares during the last quarter. Isthmus Partners LLC raised its position in Miller Industries by 93.2% during the 1st quarter. Isthmus Partners LLC now owns 42,861 shares of the auto parts company's stock worth $1,816,000 after buying an additional 20,677 shares during the last quarter. Narwhal Capital Management raised its position in Miller Industries by 20.0% during the 1st quarter. Narwhal Capital Management now owns 121,499 shares of the auto parts company's stock worth $5,148,000 after buying an additional 20,273 shares during the last quarter. Sovereign s Capital Management LLC purchased a new position in Miller Industries during the 4th quarter worth approximately $1,132,000. Finally, Pacific Ridge Capital Partners LLC raised its position in Miller Industries by 21.0% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 98,994 shares of the auto parts company's stock worth $4,194,000 after buying an additional 17,197 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Trading Down 0.9%

MLR traded down $0.39 on Monday, hitting $42.06. The company had a trading volume of 90,287 shares, compared to its average volume of 154,696. The firm has a market cap of $482.01 million, a P/E ratio of 11.49 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's fifty day moving average price is $43.37 and its 200 day moving average price is $45.03. The company has a current ratio of 3.32, a quick ratio of 2.19 and a debt-to-equity ratio of 0.13.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.18. The company had revenue of $214.03 million for the quarter, compared to analyst estimates of $234.95 million. Miller Industries had a net margin of 4.35% and a return on equity of 10.48%. As a group, equities analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid 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 1.9%. Miller Industries's dividend payout ratio is 21.86%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. DA Davidson reduced their price target on shares of Miller Industries from $66.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Zacks Research raised shares of Miller Industries to a "strong sell" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.