Martingale Asset Management L P purchased a new stake in Miller Industries, Inc. (NYSE:MLR) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,104 shares of the auto parts company’s stock, valued at approximately $401,000. Martingale Asset Management L P owned approximately 0.14% of Miller Industries as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio acquired a new position in Miller Industries during the second quarter worth about $171,000. Alliancebernstein L.P. acquired a new position in Miller Industries during the second quarter worth about $273,000. Algert Global LLC acquired a new position in Miller Industries during the second quarter worth about $291,000. Bessemer Group Inc. raised its stake in Miller Industries by 8,139.4% during the second quarter. Bessemer Group Inc. now owns 11,700 shares of the auto parts company’s stock worth $291,000 after acquiring an additional 11,558 shares in the last quarter. Finally, Systematic Financial Management LP raised its stake in Miller Industries by 160.8% during the second quarter. Systematic Financial Management LP now owns 20,070 shares of the auto parts company’s stock worth $499,000 after acquiring an additional 12,375 shares in the last quarter. 84.23% of the stock is owned by institutional investors and hedge funds.

Miller Industries, Inc. (MLR) opened at 27.60 on Thursday. Miller Industries, Inc. has a 52 week low of $21.55 and a 52 week high of $28.85. The firm’s 50-day moving average price is $24.95 and its 200 day moving average price is $25.10. The firm has a market cap of $314.01 million, a P/E ratio of 16.43 and a beta of 0.61.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Wednesday, August 9th. The auto parts company reported $0.48 earnings per share for the quarter. Miller Industries had a return on equity of 10.31% and a net margin of 3.22%. The firm had revenue of $153.09 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Monday, September 11th were issued a $0.18 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.72 annualized dividend and a dividend yield of 2.61%. Miller Industries’s payout ratio is currently 42.60%.

Separately, BidaskClub downgraded Miller Industries from a “hold” rating to a “sell” rating in a research note on Friday, July 28th.

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Miller Industries Profile

Miller Industries, Inc is a manufacturer of towing and recovery equipment. The Company manufactures the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. It has domestic manufacturing operations in Tennessee and Pennsylvania, and foreign manufacturing operations in France and the United Kingdom.

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Institutional Ownership by Quarter for Miller Industries (NYSE:MLR)

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