Miller Industries, Inc. $MLR Shares Newly Purchased by Wavvest Wealth LLC

Wavvest Wealth LLC bought a new position in shares of Miller Industries, Inc. (NYSE:MLR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 12,901 shares of the auto parts company’s stock, valued at approximately $679,000. Wavvest Wealth LLC owned 0.11% of Miller Industries at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Systematic Financial Management LP lifted its holdings in shares of Miller Industries by 1.3% in the 1st quarter. Systematic Financial Management LP now owns 446,339 shares of the auto parts company’s stock valued at $20,331,000 after buying an additional 5,743 shares during the period. Heartland Advisors Inc. acquired a new position in Miller Industries during the first quarter worth $5,466,000. Bank of New York Mellon Corp acquired a new position in Miller Industries during the second quarter worth $5,985,000. Punch & Associates Investment Management Inc. grew its holdings in Miller Industries by 36.1% during the first quarter. Punch & Associates Investment Management Inc. now owns 110,477 shares of the auto parts company’s stock worth $5,032,000 after acquiring an additional 29,291 shares during the period. Finally, Diversified Investment Strategies LLC raised its position in Miller Industries by 0.9% in the first quarter. Diversified Investment Strategies LLC now owns 106,920 shares of the auto parts company’s stock worth $4,870,000 after acquiring an additional 950 shares in the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Trading Up 0.7%

Shares of Miller Industries stock opened at $52.68 on Thursday. The company has a 50-day moving average of $54.59 and a two-hundred day moving average of $50.95. Miller Industries, Inc. has a 12-month low of $35.72 and a 12-month high of $59.70. The stock has a market cap of $598.02 million, a PE ratio of 42.48 and a beta of 1.12.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, August 5th. The auto parts company reported $0.63 EPS for the quarter, topping the consensus estimate 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 return on equity of 3.41% and a net margin of 1.86%. On average, sell-side analysts forecast that Miller Industries, Inc. will post 1.95 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.84 annualized dividend and a yield of 1.6%. Miller Industries’s payout ratio is currently 67.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen raised Miller Industries from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. DA Davidson boosted their target price on shares of Miller Industries from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miller Industries in a research note on Monday, September 21st. Finally, Zacks Research upgraded shares of Miller Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.00.

Miller Industries Company Profile

Miller Industries, Inc designs, manufactures and sells towing and recovery equipment for commercial, municipal, transportation and emergency-service customers. Its product portfolio includes light-, medium- and heavy-duty wreckers; car carriers and transporters; rotator recovery units; and specialized equipment used to recover, move and transport disabled or damaged vehicles.

The company markets products under several established brands, including Century, Vulcan, Holmes, Challenger and Champion.