Miller Industries, Inc. (NYSE:MLR) Sees Large Drop in Short Interest

Miller Industries, Inc. (NYSE:MLR - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 49,900 shares, a drop of 18.9% from the March 15th total of 61,500 shares. Approximately 0.5% of the company's shares are sold short. Based on an average daily volume of 57,500 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Miller Industries from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 7th.

Miller Industries Trading Down 3.8 %

Miller Industries stock traded down $1.97 during mid-day trading on Friday, hitting $50.28. 55,704 shares of the stock were exchanged, compared to its average volume of 63,262. The stock has a market capitalization of $575.50 million, a price-to-earnings ratio of 9.92 and a beta of 1.04. Miller Industries has a 12 month low of $32.13 and a 12 month high of $53.82. The company has a quick ratio of 1.37, a current ratio of 2.17 and a debt-to-equity ratio of 0.17. The firm's fifty day simple moving average is $46.81 and its two-hundred day simple moving average is $42.13.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The auto parts company reported $1.45 EPS for the quarter. The company had revenue of $296.25 million during the quarter. Miller Industries had a net margin of 5.05% and a return on equity of 17.97%.

Miller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were given a dividend of $0.19 per share. This is an increase from Miller Industries's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.51%. Miller Industries's dividend payout ratio (DPR) is 14.99%.

Institutional Trading of Miller Industries

Several large investors have recently modified their holdings of MLR. Rockefeller Capital Management L.P. grew its position in shares of Miller Industries by 107.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,444 shares of the auto parts company's stock worth $38,000 after buying an additional 749 shares during the period. UBS Group AG grew its position in Miller Industries by 63.1% in the 3rd quarter. UBS Group AG now owns 2,076 shares of the auto parts company's stock valued at $44,000 after purchasing an additional 803 shares during the period. Tower Research Capital LLC TRC grew its position in Miller Industries by 69.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,338 shares of the auto parts company's stock valued at $47,000 after purchasing an additional 547 shares during the period. AJOVista LLC acquired a new stake in Miller Industries in the 4th quarter valued at $69,000. Finally, Tower Research Capital LLC TRC grew its position in Miller Industries by 52.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,868 shares of the auto parts company's stock valued at $79,000 after purchasing an additional 639 shares during the period. Institutional investors and hedge funds own 79.24% of the company's stock.

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.