Huber Capital Management LLC Trims Stake in Miller Industries, Inc. $MLR

Huber Capital Management LLC lessened its position in Miller Industries, Inc. (NYSE:MLR) by 66.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,791 shares of the auto parts company’s stock after selling 52,838 shares during the quarter. Huber Capital Management LLC owned approximately 0.23% of Miller Industries worth $1,083,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MLR. State of Alaska Department of Revenue bought a new position in Miller Industries in the third quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Miller Industries by 66.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after buying an additional 329 shares in the last quarter. CWM LLC grew its position in shares of Miller Industries by 121.7% in the 3rd quarter. CWM LLC now owns 849 shares of the auto parts company’s stock worth $34,000 after buying an additional 466 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Miller Industries by 736.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock worth $46,000 after acquiring an additional 1,001 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Miller Industries in the 3rd quarter worth about $113,000. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Stock Down 1.7%

MLR traded down $0.76 during trading on Friday, hitting $43.80. 5,460 shares of the company’s stock traded hands, compared to its average volume of 54,409. The stock has a market capitalization of $498.01 million, a price-to-earnings ratio of 22.81 and a beta of 1.25. The company’s 50 day simple moving average is $42.25 and its two-hundred day simple moving average is $40.40. Miller Industries, Inc. has a 12-month low of $33.81 and a 12-month high of $48.94. The company has a current ratio of 3.22, a quick ratio of 1.87 and a debt-to-equity ratio of 0.07.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, March 4th. The auto parts company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.26. Miller Industries had a return on equity of 5.52% and a net margin of 2.92%.The firm had revenue of $171.92 million during the quarter, compared to analysts’ expectations of $164.20 million. Analysts predict that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 16th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th. This is a boost from Miller Industries’s previous quarterly dividend of $0.20. Miller Industries’s payout ratio is 40.40%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Loop Capital set a $44.00 price objective on shares of Miller Industries in a research note on Monday. DA Davidson lifted their target price on shares of Miller Industries from $52.00 to $53.00 and gave the company a “buy” rating in a report on Monday. Zacks Research cut Miller Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miller Industries in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.50.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.