Miller Industries, Inc. $MLR Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC boosted its stake in Miller Industries, Inc. (NYSE:MLR) by 4.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 95,966 shares of the auto parts company’s stock after purchasing an additional 3,864 shares during the period. Mutual of America Capital Management LLC’s holdings in Miller Industries were worth $4,267,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Miller Industries by 24.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 443,468 shares of the auto parts company’s stock valued at $18,790,000 after buying an additional 88,365 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Miller Industries by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company’s stock valued at $12,160,000 after acquiring an additional 112,925 shares in the last quarter. Millennium Management LLC grew its position in Miller Industries by 855.1% in the 1st quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company’s stock valued at $6,649,000 after acquiring an additional 140,500 shares in the last quarter. Narwhal Capital Management grew its position in Miller Industries by 26.3% in the 2nd quarter. Narwhal Capital Management now owns 153,479 shares of the auto parts company’s stock valued at $6,824,000 after acquiring an additional 31,980 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Miller Industries by 21.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 113,733 shares of the auto parts company’s stock valued at $4,819,000 after purchasing an additional 20,191 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Stock Performance

Shares of MLR stock opened at $40.10 on Thursday. The company has a current ratio of 3.32, a quick ratio of 2.19 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $40.99 and a 200 day moving average price of $42.54. The company has a market cap of $459.53 million, a P/E ratio of 10.96 and a beta of 1.24. Miller Industries, Inc. has a 12 month low of $33.81 and a 12 month high of $78.25.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.18. The business had revenue of $214.03 million during the quarter, compared to analysts’ expectations of $234.95 million. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. Sell-side analysts predict that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, September 8th. Miller Industries’s dividend payout ratio is 21.86%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. DA Davidson dropped their price objective on shares of Miller Industries from $66.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Miller Industries in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Miller Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.00.

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.