FCA Corp TX Purchases Shares of 13,200 Miller Industries, Inc. (NYSE: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 purchased a new position in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 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 and hedge funds have also recently modified their holdings of MLR. Nuveen LLC purchased a new stake in Miller Industries in the 1st quarter valued at $1,469,000. Koss Olinger Consulting LLC purchased a new stake in shares of Miller Industries during the 1st quarter valued at $419,000. Charles Schwab Investment Management Inc. increased its position in shares of Miller Industries by 21.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 113,733 shares of the auto parts company's stock valued at $4,819,000 after purchasing an additional 20,191 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Miller Industries during the 1st quarter valued at $140,000. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of 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 valued at $4,194,000 after purchasing an additional 17,197 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Stock Performance

Shares of MLR stock traded up $0.08 on Friday, hitting $42.98. 239,039 shares of the stock were exchanged, compared to its average volume of 133,718. The company has a current ratio of 3.32, a quick ratio of 2.19 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $492.46 million, a PE ratio of 11.74 and a beta of 1.25. Miller Industries, Inc. has a one year low of $33.81 and a one year high of $78.25. The firm's 50 day moving average is $43.61 and its two-hundred day moving average is $46.69.

Miller Industries (NYSE:MLR - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $234.95 million. Sell-side analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.80 annualized dividend and a yield of 1.9%. Miller Industries's dividend payout ratio (DPR) is currently 21.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MLR shares. DA Davidson decreased their target price on 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 Miller Industries to a "strong sell" rating in a research report on Monday, August 11th.

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.