Charles Schwab Investment Management Inc. Grows Stock Position in Miller Industries, Inc. (NYSE:MLR)

Charles Schwab Investment Management Inc. grew its position in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 193.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,955 shares of the auto parts company's stock after purchasing an additional 61,247 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.81% of Miller Industries worth $5,670,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MLR. Bank of New York Mellon Corp lifted its holdings in Miller Industries by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 100,538 shares of the auto parts company's stock worth $5,532,000 after buying an additional 1,253 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Miller Industries by 1.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company's stock worth $8,500,000 after purchasing an additional 1,722 shares in the last quarter. Innealta Capital LLC acquired a new stake in Miller Industries in the 2nd quarter valued at about $39,000. Rhumbline Advisers boosted its stake in shares of Miller Industries by 5.3% in the 2nd quarter. Rhumbline Advisers now owns 18,207 shares of the auto parts company's stock valued at $1,002,000 after buying an additional 924 shares during the period. Finally, Narwhal Capital Management grew its position in shares of Miller Industries by 18.2% during the second quarter. Narwhal Capital Management now owns 86,585 shares of the auto parts company's stock worth $4,764,000 after buying an additional 13,323 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Stock Down 0.3 %

Miller Industries stock traded down $0.20 during mid-day trading on Friday, hitting $71.52. The company had a trading volume of 37,791 shares, compared to its average volume of 77,280. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a 1 year low of $38.33 and a 1 year high of $78.25. The business has a fifty day moving average of $68.70 and a 200 day moving average of $62.67. The stock has a market cap of $818.19 million, a price-to-earnings ratio of 11.91 and a beta of 0.96.

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

Miller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Monday, December 2nd. Miller Industries's dividend payout ratio is currently 12.60%.

Analysts Set New Price Targets

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

About Miller Industries

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.