FCA Corp TX Purchases New Position in Miller Industries, Inc. $MLR

Key Points

• FCA Corp TX acquired 13,200 shares of Miller Industries, Inc., valued at approximately $559,000, representing about 0.12% of the company's stock.
• Institutional investors own 79.24% of Miller Industries, with firms like MIRAE ASSET GLOBAL and HSBC increasing their stakes in recent quarters.
• Miller Industries announced a quarterly dividend of $0.20 per share, translating to an annual dividend yield of 1.8%, with the ex-dividend date set for September 8th.

FCA Corp TX acquired a new stake in Miller Industries, Inc. (NYSE:MLR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,200 shares of the auto parts company's stock, valued at approximately $559,000. FCA Corp TX owned approximately 0.12% of Miller Industries as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MLR. JPMorgan Chase & Co. raised its stake in shares of Miller Industries by 58.6% in the 4th quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company's stock valued at $3,830,000 after acquiring an additional 21,643 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Miller Industries by 19.3% in the 4th quarter. Wells Fargo & Company MN now owns 26,370 shares of the auto parts company's stock valued at $1,724,000 after acquiring an additional 4,257 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Miller Industries in the 4th quarter valued at approximately $286,000. Raymond James Financial Inc. bought a new position in shares of Miller Industries in the 4th quarter valued at approximately $217,000. Finally, LSV Asset Management bought a new position in shares of Miller Industries in the 4th quarter valued at approximately $176,000. 79.24% of the stock is owned by institutional investors.

Miller Industries Stock Performance

Shares of MLR traded up $0.94 on Tuesday, reaching $44.05. 53,299 shares of the stock traded hands, compared to its average volume of 102,278. The firm has a market cap of $504.81 million, a price-to-earnings ratio of 12.04 and a beta of 1.25. 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, Inc. has a 12 month low of $33.81 and a 12 month high of $78.25. The stock's 50-day moving average price is $43.55 and its 200-day moving average price is $46.37.

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

Miller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.80 annualized dividend and a yield of 1.8%. Miller Industries's payout ratio is currently 21.86%.

Analyst Ratings Changes

MLR has been the topic of a number of recent analyst reports. Zacks Research raised Miller Industries to a "strong sell" rating in a research note on Monday, August 11th. DA Davidson dropped their price target on Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently 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.