Algert Global LLC Increases Position in Miller Industries, Inc. (NYSE:MLR)

Algert Global LLC grew its position in Miller Industries, Inc. (NYSE:MLR) by 348.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,783 shares of the auto parts company’s stock after buying an additional 22,359 shares during the quarter. Algert Global LLC’s holdings in Miller Industries were worth $1,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Miller Industries in the second quarter valued at approximately $39,000. Point72 DIFC Ltd lifted its stake in shares of Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 595 shares in the last quarter. Quest Partners LLC purchased a new stake in Miller Industries during the second quarter worth approximately $200,000. Lakewood Asset Management LLC acquired a new position in shares of Miller Industries during the third quarter worth about $250,000. Finally, SG Americas Securities LLC grew its position in Miller Industries by 84.8% in the third quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock valued at $314,000 after acquiring an additional 2,364 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MLR shares. DA Davidson restated a “buy” rating and set a $82.00 price objective on shares of Miller Industries in a report on Friday, November 15th. StockNews.com downgraded Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Miller Industries Trading Up 0.6 %

Shares of NYSE:MLR opened at $74.72 on Thursday. The company has a 50 day moving average price of $65.97 and a 200 day moving average price of $61.61. The stock has a market capitalization of $854.80 million, a price-to-earnings ratio of 12.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. Miller Industries, Inc. has a 1-year low of $38.33 and a 1-year high of $78.25.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The business had revenue of $314.27 million during the quarter. During the same period last year, the company earned $1.52 earnings per share. On average, research analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.02%. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

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.