Franklin Resources Inc. Has $15.65 Million Holdings in Miller Industries, Inc. (NYSE:MLR)

Franklin Resources Inc. decreased its stake in Miller Industries, Inc. (NYSE:MLR - Free Report) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,044 shares of the auto parts company's stock after selling 32,464 shares during the quarter. Franklin Resources Inc. owned approximately 2.16% of Miller Industries worth $15,653,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. AdvisorShares Investments LLC raised its holdings in shares of Miller Industries by 7.4% during the second 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. Systematic Financial Management LP raised its stake in shares of Miller Industries by 2.0% during the 3rd quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company's stock worth $24,105,000 after purchasing an additional 7,586 shares in the last quarter. Narwhal Capital Management lifted its holdings in shares of Miller Industries by 31.2% during the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company's stock valued at $6,928,000 after buying an additional 26,983 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Miller Industries by 90.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,856 shares of the auto parts company's stock valued at $2,858,000 after buying an additional 22,274 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Miller Industries in the third quarter worth approximately $496,000. Institutional investors and hedge funds own 79.24% of the company's stock.

Miller Industries Stock Performance

MLR traded down $0.13 on Friday, hitting $67.04. The company had a trading volume of 130,392 shares, compared to its average volume of 88,174. The stock has a market cap of $766.94 million, a price-to-earnings ratio of 11.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. The company's fifty day moving average price is $69.53 and its 200 day moving average price is $63.12. Miller Industries, Inc. has a 1-year low of $38.33 and a 1-year high of $78.25.

Miller Industries (NYSE:MLR - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, hitting analysts' consensus estimates of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The business had revenue of $314.27 million during the quarter. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, December 2nd. Miller Industries's dividend payout ratio (DPR) is 12.60%.

Analyst Upgrades and Downgrades

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

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.