Miller Industries, Inc. $MLR Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in Miller Industries, Inc. by 2.7%, selling 18,364 shares and retaining a total of 652,375 shares worth $27.64 million.
• Miller Industries recently announced a quarterly **dividend** of $0.20 per share, with a yield of 1.8%, payable to stockholders on September 15th.
• Analysts have set a consensus price target of **$64.00** for Miller Industries, with mixed ratings ranging from "strong sell" to "buy."

Vanguard Group Inc. reduced its stake in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 652,375 shares of the auto parts company's stock after selling 18,364 shares during the quarter. Vanguard Group Inc. owned about 5.69% of Miller Industries worth $27,641,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Systematic Financial Management LP increased its stake in Miller Industries by 2.0% during the fourth quarter. Systematic Financial Management LP now owns 403,191 shares of the auto parts company's stock worth $26,353,000 after acquiring an additional 8,032 shares during the last quarter. Narwhal Capital Management grew its stake in shares of Miller Industries by 20.0% during the first quarter. Narwhal Capital Management now owns 121,499 shares of the auto parts company's stock valued at $5,148,000 after buying an additional 20,273 shares during the last quarter. Northern Trust Corp grew its stake in shares of Miller Industries by 5.6% during the fourth quarter. Northern Trust Corp now owns 111,202 shares of the auto parts company's stock valued at $7,268,000 after buying an additional 5,921 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its stake in shares of Miller Industries by 21.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 98,994 shares of the auto parts company's stock valued at $4,194,000 after buying an additional 17,197 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Miller Industries by 22.5% during the fourth quarter. BNP Paribas Financial Markets now owns 57,382 shares of the auto parts company's stock valued at $3,750,000 after buying an additional 10,526 shares during the last quarter. 79.24% of the stock is owned by institutional investors.

Miller Industries Stock Down 3.2%

NYSE:MLR traded down $1.36 during mid-day trading on Tuesday, hitting $40.74. 97,663 shares of the company's stock traded hands, compared to its average volume of 150,336. The company has a fifty day moving average of $43.24 and a 200 day moving average of $44.85. Miller Industries, Inc. has a twelve month low of $33.81 and a twelve month high of $78.25. The company has a market capitalization of $466.82 million, a P/E ratio of 11.13 and a beta of 1.24. 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 announced its earnings results on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.18. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%.The company had revenue of $214.03 million for the quarter, compared to analyst estimates of $234.95 million. On average, analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The firm 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 8th. Miller Industries's dividend payout ratio is currently 21.86%.

Analysts Set New Price Targets

A number of research firms have recently commented on MLR. DA Davidson cut their target price on Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Zacks Research raised Miller Industries to a "strong sell" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $64.00.

Miller Industries Company 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.