Ellsworth Advisors LLC Boosts Stake in Miller Industries, Inc. (NYSE:MLR)

Ellsworth Advisors LLC grew its stake in shares of Miller Industries, Inc. (NYSE:MLR) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,334 shares of the auto parts company’s stock after buying an additional 492 shares during the period. Ellsworth Advisors LLC owned 0.11% of Miller Industries worth $806,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MLR. Harbor Capital Advisors Inc. raised its stake in Miller Industries by 1.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 21,775 shares of the auto parts company’s stock valued at $1,423,000 after purchasing an additional 295 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Miller Industries by 58.7% during the third quarter. JPMorgan Chase & Co. now owns 36,963 shares of the auto parts company’s stock worth $2,255,000 after buying an additional 13,679 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Miller Industries during the third quarter valued at approximately $496,000. Sanctuary Advisors LLC acquired a new stake in Miller Industries during the third quarter worth approximately $195,000. Finally, Barclays PLC grew its stake in Miller Industries by 115.6% in the 3rd quarter. Barclays PLC now owns 28,131 shares of the auto parts company’s stock worth $1,717,000 after acquiring an additional 15,082 shares during the period. 79.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Miller Industries Stock Performance

Shares of NYSE:MLR opened at $67.86 on Monday. The business has a 50-day moving average of $69.26 and a two-hundred day moving average of $64.48. The firm has a market capitalization of $776.25 million, a PE ratio of 11.25 and a beta of 0.98. 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, Inc. has a 12 month low of $38.33 and a 12 month high of $78.25.

Miller Industries (NYSE:MLR) last posted its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.33. The firm 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 last year, the company posted $1.52 EPS. As a group, research analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were issued a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.12%. Miller Industries’s payout ratio is 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.