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

Isthmus Partners LLC increased its stake in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 93.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 0.37% of Miller Industries worth $1,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MLR. Charles Schwab Investment Management Inc. raised its position in shares of Miller Industries by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 93,542 shares of the auto parts company's stock worth $6,114,000 after purchasing an additional 587 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Miller Industries in the 4th quarter valued at approximately $217,000. Royce & Associates LP grew its stake in shares of Miller Industries by 29.8% in the 4th quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company's stock valued at $42,132,000 after buying an additional 148,079 shares during the period. American Century Companies Inc. grew its stake in shares of Miller Industries by 6.7% in the 4th quarter. American Century Companies Inc. now owns 25,039 shares of the auto parts company's stock valued at $1,637,000 after buying an additional 1,576 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Miller Industries in the 4th quarter valued at approximately $137,000. Institutional investors and hedge funds own 79.24% of the company's stock.

Miller Industries Trading Down 2.3%

Shares of NYSE:MLR traded down $1.05 during mid-day trading on Monday, reaching $43.98. 11,280 shares of the company were exchanged, compared to its average volume of 97,436. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.23 and a quick ratio of 2.16. The firm has a market cap of $503.97 million, a price-to-earnings ratio of 9.34 and a beta of 1.22. The firm's 50-day simple moving average is $45.08 and its 200 day simple moving average is $50.80. Miller Industries, Inc. has a 1 year low of $37.40 and a 1 year high of $78.25.

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

Miller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.82%. Miller Industries's dividend payout ratio is presently 16.99%.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their price target on shares of Miller Industries from $66.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, June 26th.

Miller Industries 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.