Isthmus Partners LLC Takes Position in Miller Industries, Inc. (NYSE:MLR)

Isthmus Partners LLC bought a new stake in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,198 shares of the auto parts company's stock, valued at approximately $1,354,000. Isthmus Partners LLC owned approximately 0.19% of Miller Industries at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in Miller Industries in the 2nd quarter valued at $39,000. Point72 DIFC Ltd boosted its holdings in Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company's stock valued at $55,000 after acquiring an additional 595 shares during the period. Quest Partners LLC acquired a new stake in shares of Miller Industries in the second quarter valued at about $200,000. Lakewood Asset Management LLC bought a new position in shares of Miller Industries in the third quarter worth about $250,000. Finally, SG Americas Securities LLC lifted its position in shares of Miller Industries by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company's stock worth $314,000 after purchasing an additional 2,364 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company's stock.

Analyst Upgrades and Downgrades

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

Miller Industries Stock Performance

Shares of NYSE MLR traded down $0.86 during mid-day trading on Friday, hitting $73.86. The company had a trading volume of 42,698 shares, compared to its average volume of 77,446. Miller Industries, Inc. has a 12 month low of $38.33 and a 12 month high of $78.25. 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 firm has a market cap of $844.96 million, a P/E ratio of 12.25 and a beta of 0.94. The business's 50-day simple moving average is $66.48 and its 200-day simple moving average is $61.81.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, hitting analysts' consensus estimates of $1.33. The company had revenue of $314.27 million during the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same quarter in the prior year, the business posted $1.52 EPS. As a group, analysts predict that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.03%. 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.