Uncommon Cents Investing LLC Reduces Position in Miller Industries, Inc. (NYSE:MLR)

Uncommon Cents Investing LLC trimmed its position in Miller Industries, Inc. (NYSE:MLR) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,788 shares of the auto parts company’s stock after selling 1,714 shares during the quarter. Miller Industries makes up 1.3% of Uncommon Cents Investing LLC’s investment portfolio, making the stock its 18th largest position. Uncommon Cents Investing LLC owned approximately 0.58% of Miller Industries worth $4,300,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in shares of Miller Industries by 10.2% during the 3rd 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. Charles Schwab Investment Management Inc. lifted its stake in Miller Industries by 193.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company’s stock worth $5,670,000 after purchasing an additional 61,247 shares during the last quarter. Royce & Associates LP lifted its stake in Miller Industries by 12.9% during the third quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock worth $30,288,000 after purchasing an additional 56,578 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Miller Industries by 11.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company’s stock valued at $22,435,000 after purchasing an additional 37,480 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Miller Industries by 94.1% in 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. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Price Performance

Shares of NYSE MLR opened at $67.86 on Monday. The stock has a market cap of $776.32 million, a P/E ratio of 11.25 and a beta of 0.98. Miller Industries, Inc. has a twelve month low of $38.33 and a twelve month high of $78.25. The stock has a 50 day moving average of $69.26 and a two-hundred day moving average of $64.48. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

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

Miller Industries Dividend Announcement

The business also recently declared 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, December 2nd. Miller Industries’s dividend payout ratio is currently 12.60%.

Analyst Ratings Changes

Several analysts have recently weighed in on MLR shares. DA Davidson restated a “buy” rating and set a $82.00 price objective 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 research note on Wednesday, November 13th.

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.