Hotchkis & Wiley Capital Management LLC raised its stake in Miller Industries, Inc. (NYSE:MLR - Free Report) by 24.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 443,468 shares of the auto parts company's stock after acquiring an additional 88,365 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 3.87% of Miller Industries worth $18,790,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Miller Industries by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,312 shares of the auto parts company's stock worth $413,000 after buying an additional 225 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Miller Industries by 5.5% in the 4th quarter. Hsbc Holdings PLC now owns 4,955 shares of the auto parts company's stock worth $326,000 after buying an additional 260 shares in the last quarter. 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 in the last quarter. Principal Financial Group Inc. increased its holdings in Miller Industries by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 9,194 shares of the auto parts company's stock worth $390,000 after buying an additional 307 shares in the last quarter. Finally, CW Advisors LLC lifted its holdings in Miller Industries by 5.7% in the first quarter. CW Advisors LLC now owns 7,050 shares of the auto parts company's stock valued at $299,000 after acquiring an additional 380 shares during the period. 79.24% of the stock is currently owned by institutional investors.
Miller Industries Price Performance
Shares of NYSE:MLR traded down $0.34 during mid-day trading on Friday, reaching $42.11. The stock had a trading volume of 26,315 shares, compared to its average volume of 103,252. The company has a current ratio of 3.32, a quick ratio of 2.19 and a debt-to-equity ratio of 0.13. The company has a market cap of $482.58 million, a P/E ratio of 11.51 and a beta of 1.25. Miller Industries, Inc. has a 1 year low of $33.81 and a 1 year high of $78.25. The business's 50 day moving average price is $43.41 and its 200 day moving average price is $45.45.
Miller Industries (NYSE:MLR - Get Free Report) last posted its earnings results 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 company had revenue of $214.03 million for 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%. Research analysts expect that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.
Miller Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, September 8th. Miller Industries's payout ratio is currently 21.86%.
Wall Street Analyst Weigh In
MLR has been the subject of a number of recent research reports. Zacks Research upgraded Miller Industries to a "strong sell" rating in a research note on Monday, August 11th. DA Davidson dropped their price objective on Miller Industries from $66.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $64.00.
View Our Latest Stock Analysis on MLR
About Miller Industries
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Free Report)
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.
Further Reading
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