Fmr LLC Buys 71,231 Shares of Miller Industries, Inc. (NYSE:MLR)

Fmr LLC grew its stake in Miller Industries, Inc. (NYSE:MLR) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 766,623 shares of the auto parts company’s stock after acquiring an additional 71,231 shares during the period. Fmr LLC owned 0.07% of Miller Industries worth $46,764,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Miller Industries by 193.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company’s stock worth $5,670,000 after purchasing an additional 61,247 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Miller Industries by 12.9% in the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock worth $30,288,000 after buying an additional 56,578 shares during the period. Millennium Management LLC grew its position in shares of Miller Industries by 94.1% during the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock worth $3,486,000 after buying an additional 30,714 shares in the last quarter. Narwhal Capital Management increased its stake in shares of Miller Industries by 31.2% during the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after buying an additional 26,983 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Miller Industries by 188.9% in the third quarter. The Manufacturers Life Insurance Company now owns 37,391 shares of the auto parts company’s stock valued at $2,281,000 after acquiring an additional 24,449 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Trading Up 0.3 %

Shares of NYSE MLR opened at $72.90 on Friday. Miller Industries, Inc. has a 1-year low of $38.33 and a 1-year high of $78.25. The business has a fifty day moving average price of $67.81 and a 200 day moving average price of $62.31. The stock has a market capitalization of $833.98 million, a P/E ratio of 12.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46.

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

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, December 2nd. Miller Industries’s payout ratio is presently 12.60%.

Analyst Upgrades and Downgrades

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

About Miller Industries

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.