Huber Capital Management LLC Has $3.29 Million Position in Miller Industries, Inc. $MLR

Key Points

• Huber Capital Management LLC reduced its stake in Miller Industries by 7.9%, selling 6,700 shares, and now owns 77,602 shares valued at approximately $3.29 million.
• Miller Industries announced a quarterly dividend of $0.20 per share, with an annualized dividend yield of 1.8%, to be paid on September 15th.
• Despite some institutions increasing their stakes in the company, Miller Industries' stock recently dipped 0.2%, with an average rating of "Hold" and a target price of $64.00.

Huber Capital Management LLC trimmed its stake in Miller Industries, Inc. (NYSE:MLR - Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,602 shares of the auto parts company's stock after selling 6,700 shares during the quarter. Huber Capital Management LLC owned 0.68% of Miller Industries worth $3,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. IFP Advisors Inc lifted its position in shares of Miller Industries by 98.0% in the first quarter. IFP Advisors Inc now owns 608 shares of the auto parts company's stock worth $26,000 after purchasing an additional 301 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new position in Miller Industries during the fourth quarter valued at approximately $85,000. AlphaQuest LLC raised its position in Miller Industries by 230.3% during the first quarter. AlphaQuest LLC now owns 1,985 shares of the auto parts company's stock valued at $84,000 after acquiring an additional 1,384 shares in the last quarter. Aquatic Capital Management LLC raised its position in Miller Industries by 75.9% during the fourth quarter. Aquatic Capital Management LLC now owns 2,814 shares of the auto parts company's stock valued at $184,000 after acquiring an additional 1,214 shares in the last quarter. Finally, CX Institutional bought a new position in Miller Industries during the first quarter valued at approximately $120,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Stock Performance

MLR stock traded down $1.23 on Tuesday, reaching $40.86. 25,847 shares of the company were exchanged, compared to its average volume of 103,157. Miller Industries, Inc. has a 12 month low of $33.81 and a 12 month high of $78.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.19. The stock's fifty day moving average price is $43.33 and its 200 day moving average price is $44.88. The firm has a market capitalization of $468.30 million, a PE ratio of 11.17 and a beta of 1.24.

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 analysts' consensus estimates of $0.55 by $0.18. The firm had revenue of $214.03 million for the quarter, compared to the consensus estimate of $234.95 million. Miller Industries had a net margin of 4.35% and a return on equity of 10.48%. On average, research analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, September 8th. Miller Industries's payout ratio is currently 21.86%.

Analysts Set New Price Targets

MLR has been the topic of several recent research reports. DA Davidson cut their price objective on shares of Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Zacks Research upgraded Miller Industries to a "strong sell" rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company 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.