Mutual of America Capital Management LLC lessened its stake in Miller Industries, Inc. (NYSE:MLR - Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,102 shares of the auto parts company's stock after selling 24,822 shares during the period. Mutual of America Capital Management LLC owned 0.80% of Miller Industries worth $3,902,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in MLR. Raymond James Financial Inc. acquired a new stake in Miller Industries in the fourth quarter valued at approximately $217,000. JPMorgan Chase & Co. increased its holdings in shares of Miller Industries by 58.6% in the 4th quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company's stock worth $3,830,000 after buying an additional 21,643 shares during the last quarter. Norges Bank purchased a new stake in Miller Industries during the 4th quarter valued at $1,850,000. Wells Fargo & Company MN increased its stake in Miller Industries by 19.3% during the 4th quarter. Wells Fargo & Company MN now owns 26,370 shares of the auto parts company's stock valued at $1,724,000 after purchasing an additional 4,257 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Miller Industries in the fourth quarter worth approximately $286,000. Institutional investors 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.
Get Our Latest Analysis on Miller Industries
Miller Industries Price Performance
NYSE:MLR traded down $0.04 during trading hours on Friday, hitting $39.70. The company's stock had a trading volume of 196,227 shares, compared to its average volume of 117,420. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.19 and a current ratio of 3.32. The company has a market capitalization of $454.95 million, a PE ratio of 10.85 and a beta of 1.25. Miller Industries, Inc. has a 52-week low of $33.81 and a 52-week high of $78.25. The business's 50-day moving average is $43.88 and its two-hundred day moving average is $47.41.
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 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%. As a group, research analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.
Miller Industries Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 8th. Miller Industries's payout ratio is presently 21.86%.
Miller Industries Company Profile
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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.
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