Y Intercept Hong Kong Ltd Takes $810,000 Position in Miller Industries, Inc. $MLR

Y Intercept Hong Kong Ltd purchased a new stake in Miller Industries, Inc. (NYSE:MLR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,043 shares of the auto parts company’s stock, valued at approximately $810,000.

Other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its position in Miller Industries by 41.9% during the 1st quarter. AQR Capital Management LLC now owns 13,019 shares of the auto parts company’s stock worth $552,000 after purchasing an additional 3,846 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Miller Industries by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock valued at $281,000 after acquiring an additional 312 shares during the period. Millennium Management LLC boosted its holdings in Miller Industries by 855.1% in the first quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company’s stock worth $6,649,000 after acquiring an additional 140,500 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Miller Industries by 64.9% during 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 during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Miller Industries in the first quarter worth approximately $182,000. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Stock Up 2.6%

Shares of Miller Industries stock opened at $42.02 on Tuesday. The stock has a market capitalization of $480.28 million, a PE ratio of 16.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.13 and a current ratio of 3.46. Miller Industries, Inc. has a 52-week low of $33.81 and a 52-week high of $66.93. The company has a 50-day simple moving average of $39.00 and a two-hundred day simple moving average of $40.03.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Wednesday, November 5th. The auto parts company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.25. Miller Industries had a net margin of 3.59% and a return on equity of 7.32%. The business had revenue of $178.67 million for the quarter, compared to the consensus estimate of $177.55 million. On average, analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Tuesday, December 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, December 2nd. Miller Industries’s dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research raised Miller Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Loop Capital set a $46.00 target price on shares of Miller Industries in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Miller Industries currently has an average rating of “Hold” and a consensus target price of $55.00.

Miller Industries 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.