Jacobs Levy Equity Management Inc. Boosts Stock Position in Miller Industries, Inc. $MLR

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Miller Industries by 114.2% during the first quarter, owning a total of 16,836 shares worth $713,000.
• Miller Industries reported $0.73 earnings per share for the last quarter, exceeding expectations, though revenue fell short of estimates at $214.03 million.
• The company announced a quarterly dividend of $0.20 per share, with a dividend yield of 2.0%, to be paid on September 15th.

Jacobs Levy Equity Management Inc. lifted its holdings in Miller Industries, Inc. (NYSE:MLR - Free Report) by 114.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,836 shares of the auto parts company's stock after purchasing an additional 8,976 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.15% of Miller Industries worth $713,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc grew its holdings 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 valued at $26,000 after purchasing an additional 301 shares in the last quarter. AlphaQuest LLC lifted its position in Miller Industries by 230.3% in the first quarter. AlphaQuest LLC now owns 1,985 shares of the auto parts company's stock worth $84,000 after buying an additional 1,384 shares during the last quarter. CX Institutional bought a new stake in Miller Industries in the first quarter worth $120,000. GAMMA Investing LLC lifted its position in Miller Industries by 1,894.1% in the first quarter. GAMMA Investing LLC now owns 3,051 shares of the auto parts company's stock worth $129,000 after buying an additional 2,898 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Miller Industries in the first quarter worth $140,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Stock Down 3.2%

NYSE:MLR opened at $39.80 on Friday. Miller Industries, Inc. has a twelve month low of $33.81 and a twelve month high of $78.25. The company has a market cap of $456.13 million, a price-to-earnings ratio of 10.87 and a beta of 1.24. The stock has a fifty day simple moving average of $42.50 and a 200-day simple moving average of $43.85. The company has a current ratio of 3.32, a quick ratio of 2.19 and a debt-to-equity ratio of 0.13.

Miller Industries (NYSE:MLR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.18. The firm had revenue of $214.03 million during the quarter, compared to the consensus estimate of $234.95 million. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. Analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, September 8th. Miller Industries's payout ratio is presently 21.86%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research upgraded Miller Industries to a "strong sell" rating in a research report on Monday, August 11th. DA Davidson lowered their price target 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. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Miller Industries has an average 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.

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