State Street Corp Increases Stock Position in Miller Industries, Inc. (NYSE:MLR)

State Street Corp increased its holdings in Miller Industries, Inc. (NYSE:MLR) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 230,828 shares of the auto parts company’s stock after buying an additional 9,482 shares during the period. State Street Corp’s holdings in Miller Industries were worth $14,081,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in shares of Miller Industries by 10.2% during the third quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after acquiring an additional 71,231 shares in the last quarter. Royce & Associates LP raised its stake in shares of Miller Industries by 12.9% during the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock valued at $30,288,000 after purchasing an additional 56,578 shares during the period. Systematic Financial Management LP lifted its holdings in Miller Industries by 2.0% during the 3rd quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock worth $24,105,000 after purchasing an additional 7,586 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Miller Industries by 11.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company’s stock worth $22,435,000 after purchasing an additional 37,480 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Miller Industries by 1.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company’s stock valued at $8,500,000 after buying an additional 1,722 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MLR shares. DA Davidson reissued a “buy” rating and issued a $82.00 price target on shares of Miller Industries in a report on Friday, November 15th. StockNews.com cut shares of Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Miller Industries Price Performance

Shares of NYSE MLR opened at $67.55 on Wednesday. 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 stock’s 50-day simple moving average is $69.59 and its two-hundred day simple moving average is $63.21. Miller Industries, Inc. has a twelve month low of $38.33 and a twelve month high of $78.25. The firm has a market capitalization of $772.70 million, a P/E ratio of 11.20 and a beta of 0.96.

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

Miller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, December 2nd. Miller Industries’s payout ratio is currently 12.60%.

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.