Miller Industries, Inc. (NYSE:MLR) Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its holdings in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 625,575 shares of the auto parts company's stock after selling 19,032 shares during the period. Royce & Associates LP owned approximately 5.46% of Miller Industries worth $26,506,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MLR. Isthmus Partners LLC increased its position in shares of Miller Industries by 93.2% in the 1st quarter. Isthmus Partners LLC now owns 42,861 shares of the auto parts company's stock valued at $1,816,000 after acquiring an additional 20,677 shares during the period. CX Institutional acquired a new stake in shares of Miller Industries during the 1st quarter valued at about $120,000. GAMMA Investing LLC grew its position in shares of Miller Industries by 1,894.1% during the 1st quarter. GAMMA Investing LLC now owns 3,051 shares of the auto parts company's stock valued at $129,000 after acquiring an additional 2,898 shares during the period. Narwhal Capital Management grew its position in shares of Miller Industries by 20.0% during the 1st quarter. Narwhal Capital Management now owns 121,499 shares of the auto parts company's stock valued at $5,148,000 after acquiring an additional 20,273 shares during the period. Finally, Jane Street Group LLC lifted its stake in Miller Industries by 23.8% in the 4th quarter. Jane Street Group LLC now owns 8,003 shares of the auto parts company's stock valued at $523,000 after buying an additional 1,539 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company's stock.

Miller Industries Price Performance

Miller Industries stock traded down $0.81 during midday trading on Monday, reaching $42.84. The company had a trading volume of 57,234 shares, compared to its average volume of 96,314. The firm's fifty day simple moving average is $44.74 and its 200-day simple moving average is $49.23. The company has a market capitalization of $490.95 million, a P/E ratio of 9.10 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.23 and a quick ratio of 2.16. Miller Industries, Inc. has a 12-month low of $37.40 and a 12-month high of $78.25.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.09. The business had revenue of $225.65 million during the quarter, compared to the consensus estimate of $224.35 million. Miller Industries had a net margin of 4.81% and a return on equity of 13.78%. As a group, equities analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.87%. Miller Industries's dividend payout ratio is currently 16.99%.

Analyst Ratings Changes

Separately, DA Davidson decreased their price target on shares of Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th.

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.