7,012 Shares in Miller Industries, Inc. (NYSE:MLR) Acquired by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. purchased a new position in shares of Miller Industries, Inc. (NYSE:MLR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,012 shares of the auto parts company’s stock, valued at approximately $297,000. Watershed Asset Management L.L.C. owned approximately 0.06% of Miller Industries as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLR. Vanguard Group Inc. increased its holdings in Miller Industries by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 546,369 shares of the auto parts company’s stock worth $21,423,000 after purchasing an additional 6,937 shares during the last quarter. FMR LLC increased its holdings in Miller Industries by 1.2% during the 3rd quarter. FMR LLC now owns 420,398 shares of the auto parts company’s stock worth $16,484,000 after purchasing an additional 4,825 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in Miller Industries by 2.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 315,658 shares of the auto parts company’s stock worth $12,377,000 after purchasing an additional 7,830 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its holdings in Miller Industries by 6.7% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 168,830 shares of the auto parts company’s stock worth $6,620,000 after purchasing an additional 10,644 shares during the last quarter. Finally, Diversified Investment Strategies LLC increased its holdings in Miller Industries by 0.5% during the 3rd quarter. Diversified Investment Strategies LLC now owns 117,400 shares of the auto parts company’s stock worth $4,603,000 after purchasing an additional 550 shares during the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th.

Miller Industries Stock Performance

Shares of NYSE MLR traded up $0.42 during trading on Tuesday, reaching $50.26. The stock had a trading volume of 48,411 shares, compared to its average volume of 56,030. Miller Industries, Inc. has a one year low of $32.13 and a one year high of $53.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.37 and a current ratio of 2.17. The stock has a market cap of $575.48 million, a PE ratio of 9.91 and a beta of 1.04. The firm’s 50 day moving average price is $47.87 and its two-hundred day moving average price is $42.69.

Miller Industries (NYSE:MLR) last issued its quarterly earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share for the quarter. Miller Industries had a return on equity of 17.97% and a net margin of 5.05%. The business had revenue of $296.25 million during the quarter.

Miller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Miller Industries’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 15th. Miller Industries’s payout ratio is 14.99%.

Miller Industries Profile

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company 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, which are used to transport new or disabled vehicles and other equipment.