Renaissance Technologies LLC Decreases Stock Holdings in Miller Industries, Inc. $MLR

Renaissance Technologies LLC trimmed its position in shares of Miller Industries, Inc. (NYSE:MLR) by 51.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 23,000 shares of the auto parts company’s stock after selling 24,686 shares during the quarter. Renaissance Technologies LLC’s holdings in Miller Industries were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. First Wilshire Securities Management Inc. lifted its position in shares of Miller Industries by 980.1% during the 4th quarter. First Wilshire Securities Management Inc. now owns 298,801 shares of the auto parts company’s stock valued at $11,166,000 after buying an additional 271,136 shares in the last quarter. Millennium Management LLC raised its position in shares of Miller Industries by 855.1% during the first quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company’s stock valued at $6,649,000 after buying an additional 140,500 shares during the last quarter. Heartland Advisors Inc. purchased a new position in shares of Miller Industries in the first quarter worth $5,466,000. Goldman Sachs Group Inc. lifted its position in shares of Miller Industries by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company’s stock worth $12,160,000 after buying an additional 112,925 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Miller Industries by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 566,171 shares of the auto parts company’s stock worth $22,885,000 after buying an additional 101,973 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Stock Up 1.0%

MLR stock opened at $56.92 on Friday. The stock has a market capitalization of $646.06 million, a PE ratio of 45.90 and a beta of 1.11. Miller Industries, Inc. has a 52 week low of $35.72 and a 52 week high of $57.76. The firm has a 50 day moving average of $50.61 and a 200 day moving average of $47.30.

Miller Industries (NYSE:MLR) last issued its quarterly earnings results on Wednesday, August 5th. The auto parts company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.27. The business had revenue of $239.99 million for the quarter, compared to analyst estimates of $210.80 million. Miller Industries had a net margin of 1.86% and a return on equity of 3.41%. On average, equities research analysts expect that Miller Industries, Inc. will post 1.95 earnings per share for the current year.

Miller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. Miller Industries’s dividend payout ratio (DPR) is 67.74%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research note on Wednesday, June 24th. Zacks Research upgraded shares of Miller Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Wall Street Zen raised Miller Industries from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, DA Davidson increased their price objective on Miller Industries from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.00.

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.