Miller Industries, Inc. (NYSE:MLR) Shares Acquired by Isthmus Partners LLC

Isthmus Partners LLC grew its holdings in Miller Industries, Inc. (NYSE:MLR - Free Report) by 93.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,861 shares of the auto parts company's stock after purchasing an additional 20,677 shares during the period. Isthmus Partners LLC owned about 0.37% of Miller Industries worth $1,816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in Miller Industries by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 9,194 shares of the auto parts company's stock worth $390,000 after acquiring an additional 307 shares during the period. Narwhal Capital Management boosted its stake in Miller Industries by 20.0% during the first 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 period. CX Institutional purchased a new position in Miller Industries during the first quarter worth $120,000. Harbor Capital Advisors Inc. boosted its stake in Miller Industries by 64.1% during the first quarter. Harbor Capital Advisors Inc. now owns 35,724 shares of the auto parts company's stock worth $1,514,000 after buying an additional 13,949 shares during the period. Finally, Olstein Capital Management L.P. boosted its stake in shares of Miller Industries by 2.4% during the first quarter. Olstein Capital Management L.P. now owns 21,500 shares of the auto parts company's stock valued at $911,000 after purchasing an additional 500 shares during the period. Institutional investors own 79.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their price objective on Miller Industries from $66.00 to $64.00 and set a "buy" rating for the company in a report on Thursday, June 26th.

Miller Industries Stock Performance

Miller Industries stock traded down $0.25 during mid-day trading on Wednesday, hitting $43.22. The company had a trading volume of 53,330 shares, compared to its average volume of 93,551. The company has a current ratio of 3.23, a quick ratio of 2.16 and a debt-to-equity ratio of 0.18. Miller Industries, Inc. has a 12-month low of $37.40 and a 12-month high of $78.25. The company's fifty day moving average is $45.17 and its 200-day moving average is $50.55. The company has a market capitalization of $495.32 million, a price-to-earnings ratio of 9.18 and a beta of 1.22.

Miller Industries (NYSE:MLR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.09. The business had revenue of $225.65 million during the quarter, compared to the consensus estimate of $224.35 million. Miller Industries had a return on equity of 13.78% and a net margin of 4.81%. Equities research analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, June 2nd. Miller Industries's payout ratio is presently 16.99%.

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.