Perritt Capital Management Inc. lowered its position in Miller Industries, Inc. (NYSE:MLR) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,083 shares of the auto parts company’s stock after selling 10,188 shares during the quarter. Miller Industries accounts for 1.8% of Perritt Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Perritt Capital Management Inc.’s holdings in Miller Industries were worth $4,707,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MLR. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Miller Industries by 22.7% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 38,850 shares of the auto parts company’s stock worth $1,195,000 after acquiring an additional 7,200 shares in the last quarter. Northern Trust Corp increased its holdings in Miller Industries by 3.6% in the 2nd quarter. Northern Trust Corp now owns 157,693 shares of the auto parts company’s stock valued at $4,849,000 after purchasing an additional 5,423 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Miller Industries by 954.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,566 shares of the auto parts company’s stock valued at $417,000 after purchasing an additional 12,279 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Miller Industries by 8.6% in the 2nd quarter. Renaissance Technologies LLC now owns 127,900 shares of the auto parts company’s stock valued at $3,933,000 after purchasing an additional 10,100 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Miller Industries by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 145,553 shares of the auto parts company’s stock valued at $4,476,000 after purchasing an additional 795 shares during the period. 87.11% of the stock is owned by hedge funds and other institutional investors.

Shares of MLR stock traded up $1.25 during trading hours on Wednesday, reaching $33.69. The company had a trading volume of 1,912 shares, compared to its average volume of 27,283. The company has a market capitalization of $371.64 million, a P/E ratio of 9.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.47 and a current ratio of 2.05. Miller Industries, Inc. has a twelve month low of $22.80 and a twelve month high of $35.26. The stock’s fifty day simple moving average is $31.41 and its 200 day simple moving average is $31.37.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $0.94 EPS for the quarter. The firm had revenue of $222.35 million for the quarter. Miller Industries had a return on equity of 16.81% and a net margin of 4.88%.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, September 6th.

In other Miller Industries news, Director Theodore H. Ashford III sold 6,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $32.30, for a total value of $193,800.00. Following the completion of the transaction, the director now directly owns 13,903 shares of the company’s stock, valued at approximately $449,066.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey I. Badgley sold 7,820 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $32.53, for a total transaction of $254,384.60. Following the completion of the transaction, the chief executive officer now directly owns 2,180 shares of the company’s stock, valued at $70,915.40. The disclosure for this sale can be found here. Insiders sold 31,820 shares of company stock valued at $1,031,245 in the last ninety days. 3.90% of the stock is owned by corporate insiders.

Separately, ValuEngine cut Miller Industries from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

About Miller Industries

Miller Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. It 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 that are used to transport new or disabled vehicles and other equipment.

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

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