Charles Schwab Investment Management Inc. Has $5.67 Million Stock Position in Miller Industries, Inc. (NYSE:MLR)

Charles Schwab Investment Management Inc. raised its position in Miller Industries, Inc. (NYSE:MLR) by 193.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 92,955 shares of the auto parts company’s stock after acquiring an additional 61,247 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Miller Industries were worth $5,670,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Miller Industries by 18.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,303 shares of the auto parts company’s stock valued at $506,000 after purchasing an additional 1,297 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Miller Industries by 1.5% during the third quarter. Segall Bryant & Hamill LLC now owns 66,672 shares of the auto parts company’s stock worth $4,067,000 after acquiring an additional 990 shares in the last quarter. Quest Partners LLC increased its position in shares of Miller Industries by 127.0% during the third quarter. Quest Partners LLC now owns 8,250 shares of the auto parts company’s stock worth $503,000 after acquiring an additional 4,616 shares in the last quarter. Royce & Associates LP raised 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 acquiring an additional 56,578 shares during the last quarter. Finally, Summit Global Investments acquired a new position in Miller Industries during the 3rd quarter valued at about $611,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MLR has been the topic of several analyst reports. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of Miller Industries in a research report on Friday, November 15th. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

Miller Industries Price Performance

Shares of NYSE MLR opened at $71.84 on Friday. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $821.78 million, a PE ratio of 11.91 and a beta of 0.96. The stock’s 50 day moving average price is $68.70 and its 200-day moving average price is $62.67. Miller Industries, Inc. has a twelve month low of $38.33 and a twelve month high of $78.25.

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

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.06%. Miller Industries’s payout ratio is currently 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.