34,681 Shares in Miller Industries, Inc. $MLR Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired 34,681 shares of Miller Industries, Inc. ($MLR), valued at approximately $1.47 million, representing 0.30% of the company.
• The firm reported a quarterly EPS of $0.73, surpassing analyst estimates, despite revenues of $214.03 million falling short of projections.
• Miller Industries announced a quarterly dividend of $0.20 per share, resulting in an annual yield of 1.9%, with a payout ratio of 21.86%.

Nuveen LLC purchased a new position in Miller Industries, Inc. (NYSE:MLR - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 34,681 shares of the auto parts company's stock, valued at approximately $1,469,000. Nuveen LLC owned about 0.30% of Miller Industries as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. IFP Advisors Inc lifted its position 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 buying an additional 301 shares during the last quarter. Aquatic Capital Management LLC lifted its position in shares of Miller Industries by 75.9% in the 4th quarter. Aquatic Capital Management LLC now owns 2,814 shares of the auto parts company's stock worth $184,000 after buying an additional 1,214 shares during the last quarter. CX Institutional bought a new position in shares of Miller Industries in the 1st quarter worth about $120,000. GAMMA Investing LLC lifted its position 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 valued at $129,000 after purchasing an additional 2,898 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in Miller Industries in the 4th quarter valued at about $204,000. 79.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MLR. DA Davidson cut their price objective on shares of Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Zacks Research upgraded shares of Miller Industries to a "strong sell" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Miller Industries has an average rating of "Hold" and a consensus target price of $64.00.

Miller Industries Price Performance

Shares of MLR stock traded down $0.14 during midday trading on Friday, reaching $41.67. 77,084 shares of the company were exchanged, compared to its average volume of 124,673. Miller Industries, Inc. has a 12 month low of $33.81 and a 12 month high of $78.25. The company has a market cap of $477.56 million, a P/E ratio of 11.39 and a beta of 1.24. The company's 50 day moving average price is $43.07 and its two-hundred day moving average price is $44.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.19 and a current ratio of 3.32.

Miller Industries (NYSE:MLR - Get Free Report) last released its quarterly 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. Miller Industries had a net margin of 4.35% and a return on equity of 10.48%. The company had revenue of $214.03 million for the quarter, compared to the consensus estimate of $234.95 million. On average, sell-side analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.20 per share. 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 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.