Miller Industries, Inc. $MLR Shares Acquired by Jacobs Levy Equity Management Inc.

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. boosted its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 114.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,836 shares of the auto parts company's stock after buying an additional 8,976 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.15% of Miller Industries worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MLR. Hotchkis & Wiley Capital Management LLC boosted its position in Miller Industries by 24.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 443,468 shares of the auto parts company's stock valued at $18,790,000 after buying an additional 88,365 shares during the last quarter. Nuveen LLC purchased a new stake in Miller Industries in the 1st quarter worth $1,469,000. Victory Capital Management Inc. increased its holdings in Miller Industries by 587.3% in the 1st quarter. Victory Capital Management Inc. now owns 32,187 shares of the auto parts company's stock worth $1,364,000 after acquiring an additional 27,504 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Miller Industries in the 1st quarter valued at $1,009,000. Finally, Isthmus Partners LLC lifted its holdings in Miller Industries by 93.2% in the 1st quarter. Isthmus Partners LLC now owns 42,861 shares of the auto parts company's stock valued at $1,816,000 after purchasing an additional 20,677 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. DA Davidson reduced their price target on Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Zacks Research upgraded Miller Industries to a "strong sell" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Miller Industries presently has a consensus rating of "Hold" and a consensus target price of $64.00.

Miller Industries Stock Performance

NYSE:MLR traded up $1.47 during midday trading on Thursday, reaching $40.92. The stock had a trading volume of 99,187 shares, compared to its average volume of 91,930. The firm has a fifty day simple moving average of $42.05 and a two-hundred day simple moving average of $43.37. Miller Industries, Inc. has a 12-month low of $33.81 and a 12-month high of $78.25. The company has a quick ratio of 2.19, a current ratio of 3.32 and a debt-to-equity ratio of 0.13. The stock has a market cap of $468.95 million, a P/E ratio of 11.18 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 for the quarter, beating 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 firm had revenue of $214.03 million for the quarter, compared to analyst estimates of $234.95 million. On average, equities analysts expect that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, September 8th. Miller Industries's payout ratio is presently 21.86%.

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.