Koss Olinger Consulting LLC Takes Position in Miller Industries, Inc. (NYSE:MLR)

Key Points

• Koss Olinger Consulting LLC has acquired approximately 9,891 shares of Miller Industries, valued at around $419,000, during the 1st quarter of the year.
• DA Davidson has reduced its price target for Miller Industries from $66.00 to $64.00 while maintaining a "buy" rating on the stock.
• Miller Industries recently declared a quarterly dividend of $0.20 per share, representing an annualized yield of 2.0%, with the payment scheduled for September 15th.

Koss Olinger Consulting LLC acquired a new stake in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,891 shares of the auto parts company's stock, valued at approximately $419,000. Koss Olinger Consulting LLC owned approximately 0.09% of Miller Industries as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MLR. IFP Advisors Inc increased its holdings in Miller Industries by 98.0% in the 1st quarter. IFP Advisors Inc now owns 608 shares of the auto parts company's stock worth $26,000 after buying an additional 301 shares during the period. CANADA LIFE ASSURANCE Co acquired a new position in Miller Industries in the 4th quarter worth approximately $85,000. CX Institutional acquired a new position in Miller Industries in the 1st quarter worth approximately $120,000. GAMMA Investing LLC increased its holdings in Miller Industries by 1,894.1% in the 1st 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 period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Miller Industries in the 1st quarter worth approximately $140,000. Institutional investors and hedge funds own 79.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, 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 report on Thursday, June 26th.

Miller Industries Price Performance

Shares of NYSE MLR opened at $39.70 on Friday. The stock has a market capitalization of $454.95 million, a price-to-earnings ratio of 10.85 and a beta of 1.25. Miller Industries, Inc. has a 12 month low of $33.81 and a 12 month high of $78.25. The firm's 50 day simple moving average is $43.88 and its 200-day simple moving average is $47.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.16.

Miller Industries (NYSE:MLR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The auto parts company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.18. The business had revenue of $214.03 million for the quarter, compared to analysts' expectations of $234.95 million. Miller Industries had a net margin of 4.35% and a return on equity of 10.48%. Analysts expect 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. Stockholders of record on Monday, September 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. Miller Industries's dividend payout ratio (DPR) is presently 21.86%.

About Miller Industries

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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