Harbor Capital Advisors Inc. Buys 11,945 Shares of Miller Industries, Inc. (NYSE:MLR)

Harbor Capital Advisors Inc. raised its stake in Miller Industries, Inc. (NYSE:MLR) by 125.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,480 shares of the auto parts company’s stock after purchasing an additional 11,945 shares during the period. Harbor Capital Advisors Inc. owned 0.19% of Miller Industries worth $1,310,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MLR. GSA Capital Partners LLP acquired a new stake in shares of Miller Industries in the 1st quarter valued at about $688,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Miller Industries during the first quarter valued at approximately $439,000. Hillsdale Investment Management Inc. raised its position in shares of Miller Industries by 1,404.6% during the first quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock worth $2,864,000 after purchasing an additional 53,373 shares during the period. AdvisorShares Investments LLC lifted its holdings in shares of Miller Industries by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock worth $7,426,000 after purchasing an additional 9,384 shares in the last quarter. Finally, Narwhal Capital Management grew its position in Miller Industries by 31.2% in the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after purchasing an additional 26,983 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Stock Up 3.1 %

Shares of NYSE:MLR opened at $69.17 on Wednesday. The business’s 50 day moving average is $61.90 and its 200 day moving average is $59.47. Miller Industries, Inc. has a 12-month low of $36.57 and a 12-month high of $69.75. The stock has a market cap of $792.00 million, a price-to-earnings ratio of 11.12 and a beta of 0.94. 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 earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share (EPS) for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. The firm had revenue of $371.45 million during the quarter. On average, sell-side analysts forecast that Miller Industries, Inc. will post 5.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on MLR. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a report on Tuesday. DA Davidson began coverage on shares of Miller Industries in a report on Wednesday, October 2nd. They issued a “buy” rating and a $82.00 target price on the stock.

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.