Invesco Ltd. reduced its stake in Miller Industries, Inc. (NYSE:MLR - Free Report) by 65.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,620 shares of the auto parts company's stock after selling 56,759 shares during the period. Invesco Ltd. owned approximately 0.26% of Miller Industries worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. IFP Advisors Inc lifted its stake in shares of Miller Industries by 98.0% in the 1st quarter. IFP Advisors Inc now owns 608 shares of the auto parts company's stock valued at $26,000 after purchasing an additional 301 shares during the period. CX Institutional acquired a new stake in Miller Industries during the first quarter worth approximately $120,000. GAMMA Investing LLC lifted its position in Miller Industries by 1,894.1% during the first quarter. GAMMA Investing LLC now owns 3,051 shares of the auto parts company's stock worth $129,000 after acquiring an additional 2,898 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Miller Industries during the first quarter worth approximately $140,000. Finally, Aquatic Capital Management LLC raised its position in shares of Miller Industries by 75.9% in the fourth quarter. Aquatic Capital Management LLC now owns 2,814 shares of the auto parts company's stock valued at $184,000 after buying an additional 1,214 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.
Miller Industries Stock Performance
Miller Industries stock traded down $0.14 during mid-day trading on Friday, reaching $41.67. The company's stock had a trading volume of 77,084 shares, compared to its average volume of 124,673. The firm's fifty day moving average price is $43.07 and its two-hundred day moving average price is $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.19 and a current ratio of 3.32. Miller Industries, Inc. has a 12-month low of $33.81 and a 12-month high of $78.25. The company has a market capitalization of $477.56 million, a P/E ratio of 11.39 and a beta of 1.24.
Miller Industries (NYSE:MLR - Get Free Report) last posted its quarterly earnings data 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. Miller Industries had a net margin of 4.35% and a return on equity of 10.48%. The company had revenue of $214.03 million during the quarter, compared to the consensus estimate of $234.95 million. Sell-side analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.
Miller Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.20 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Miller Industries's payout ratio is presently 21.86%.
Wall Street Analysts Forecast Growth
Several brokerages have commented on MLR. Zacks Research upgraded shares of Miller Industries to a "strong sell" rating in a research report on Monday, August 11th. DA Davidson cut their price target 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. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Miller Industries presently has a consensus rating of "Hold" and an average target price of $64.00.
Get Our Latest Stock Analysis on Miller Industries
About Miller Industries
(
Free Report)
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.
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