8,130 Shares in Miller Industries, Inc. (NYSE:MLR) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,130 shares of the auto parts company's stock, valued at approximately $496,000. Principal Financial Group Inc. owned 0.07% of Miller Industries at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. AdvisorShares Investments LLC increased its holdings in Miller Industries by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company's stock worth $7,426,000 after acquiring an additional 9,384 shares in the last quarter. Narwhal Capital Management increased its holdings in shares of Miller Industries by 31.2% in the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company's stock valued at $6,928,000 after purchasing an additional 26,983 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Miller Industries during the 2nd quarter worth $468,000. Cubist Systematic Strategies LLC boosted its holdings in Miller Industries by 2.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company's stock valued at $452,000 after purchasing an additional 201 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Miller Industries by 125.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,480 shares of the auto parts company's stock valued at $1,310,000 after buying an additional 11,945 shares during the period. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Trading Up 2.4 %

Shares of Miller Industries stock traded up $1.73 on Monday, reaching $73.66. The company had a trading volume of 127,835 shares, compared to its average volume of 77,197. The firm's 50 day moving average price is $65.06 and its two-hundred day moving average price is $61.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. Miller Industries, Inc. has a 52-week low of $38.33 and a 52-week high of $78.25. The firm has a market cap of $842.67 million, a PE ratio of 11.93 and a beta of 0.94.

Miller Industries (NYSE:MLR - Get Free Report) last announced its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.33. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. The company had revenue of $314.27 million for the quarter. During the same period in the previous year, the firm earned $1.52 EPS. Sell-side analysts predict that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.03%. The ex-dividend date is Monday, December 2nd. Miller Industries's payout ratio is 12.60%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. DA Davidson reissued a "buy" rating and set a $82.00 target price on shares of Miller Industries in a research note on Friday, November 15th. StockNews.com cut Miller Industries from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th.

Miller Industries Company 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.