Cubist Systematic Strategies LLC Raises Position in Miller Industries, Inc. (NYSE:MLR)

Cubist Systematic Strategies LLC grew its position in shares of Miller Industries, Inc. (NYSE:MLR) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 8,220 shares of the auto parts company’s stock after purchasing an additional 201 shares during the period. Cubist Systematic Strategies LLC’s holdings in Miller Industries were worth $452,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Algert Global LLC bought a new position in shares of Miller Industries in the 2nd quarter worth about $353,000. Susquehanna Fundamental Investments LLC grew its holdings in Miller Industries by 18.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 10,345 shares of the auto parts company’s stock worth $569,000 after purchasing an additional 1,578 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Miller Industries by 215.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,942 shares of the auto parts company’s stock valued at $712,000 after purchasing an additional 8,840 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Miller Industries by 94.1% during the second quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock valued at $3,486,000 after purchasing an additional 30,714 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of Miller Industries in the 2nd quarter worth approximately $407,000. Institutional investors own 79.24% of the company’s stock.

Miller Industries Price Performance

Shares of MLR opened at $62.99 on Monday. Miller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $69.75. The company has a market capitalization of $722.50 million, a P/E ratio of 10.99 and a beta of 0.96. The firm has a 50 day moving average of $60.05 and a 200 day moving average of $57.68. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. The firm had revenue of $371.45 million during the quarter. As a group, equities research analysts anticipate that Miller Industries, Inc. will post 5.6 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Monday, September 9th. Miller Industries’s payout ratio is presently 13.26%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson began coverage on Miller Industries in a research note on Wednesday, October 2nd. They set a “buy” rating and a $82.00 price objective for the company. StockNews.com cut shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 12th.

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.