Narwhal Capital Management Grows Stock Position in Miller Industries, Inc. $MLR

Narwhal Capital Management raised its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 26.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,479 shares of the auto parts company's stock after purchasing an additional 31,980 shares during the quarter. Narwhal Capital Management owned 1.34% of Miller Industries worth $6,824,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of 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 purchasing an additional 301 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Miller Industries by 1,842.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,709 shares of the auto parts company's stock worth $76,000 after purchasing an additional 1,621 shares during the period. AlphaQuest LLC raised its holdings in shares of Miller Industries by 230.3% in the 1st quarter. AlphaQuest LLC now owns 1,985 shares of the auto parts company's stock worth $84,000 after purchasing an additional 1,384 shares during the period. CX Institutional purchased a new position in shares of Miller Industries in the 1st quarter worth about $120,000. Finally, GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 2,898 shares during the period. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Trading Up 1.4%

NYSE:MLR opened at $40.43 on Thursday. Miller Industries, Inc. has a 12-month low of $33.81 and a 12-month high of $78.25. The firm has a market capitalization of $463.25 million, a P/E ratio of 11.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.19. The business has a 50 day simple moving average of $41.08 and a 200 day simple moving average of $42.70.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.18. The business had revenue of $214.03 million during the quarter, compared to analyst estimates of $234.95 million. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. Equities research analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.20 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. Miller Industries's dividend payout ratio is 21.86%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MLR. Zacks Research upgraded Miller Industries to a "strong sell" rating in a research note on Monday, August 11th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Miller Industries in a research note on Wednesday. Finally, DA Davidson lowered their target price 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 analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $64.00.

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.

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