Fmr LLC Acquires 71,231 Shares of Miller Industries, Inc. (NYSE:MLR)

FMR LLC increased its holdings in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 10.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 766,623 shares of the auto parts company's stock after purchasing an additional 71,231 shares during the period. FMR LLC owned approximately 6.70% of Miller Industries worth $46,764,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AdvisorShares Investments LLC increased its position in shares of Miller Industries by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company's stock worth $7,426,000 after purchasing an additional 9,384 shares during the last quarter. Narwhal Capital Management boosted its stake in Miller Industries by 31.2% in the 3rd 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 period. Principal Financial Group Inc. bought a new stake in shares of Miller Industries during the 3rd quarter valued at $496,000. XTX Topco Ltd bought a new stake in shares of Miller Industries during the 2nd quarter valued at $468,000. Finally, Summit Global Investments bought a new stake in shares of Miller Industries during the 3rd quarter valued at $611,000. Institutional investors own 79.24% of the company's stock.

Analyst Upgrades and Downgrades

MLR has been the subject of several recent analyst reports. DA Davidson restated a "buy" rating and set a $82.00 price objective on shares of Miller Industries in a research report on Friday, November 15th. StockNews.com cut Miller Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th.

Miller Industries Stock Performance

Shares of NYSE MLR traded up $0.19 during mid-day trading on Friday, hitting $72.90. The company had a trading volume of 70,035 shares, compared to its average volume of 105,330. The company has a market capitalization of $833.98 million, a price-to-earnings ratio of 12.09 and a beta of 0.96. Miller Industries, Inc. has a 1 year low of $38.33 and a 1 year high of $78.25. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock's 50-day moving average price is $67.81 and its 200-day moving average price is $62.31.

Miller Industries (NYSE:MLR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter. During the same period in the prior year, the business posted $1.52 EPS. On average, sell-side analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, December 2nd. Miller Industries's dividend payout ratio (DPR) is presently 12.60%.

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.