Jacobs Levy Equity Management Inc. Makes New $1.09 Million Investment in Miller Industries, Inc. (NYSE:MLR)

Jacobs Levy Equity Management Inc. bought a new position in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,910 shares of the auto parts company's stock, valued at approximately $1,093,000. Jacobs Levy Equity Management Inc. owned approximately 0.16% of Miller Industries as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in Miller Industries during the 2nd quarter valued at $39,000. Point72 DIFC Ltd raised its holdings in shares of Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company's stock worth $55,000 after purchasing an additional 595 shares during the period. Quest Partners LLC bought a new position in Miller Industries during the second quarter valued at $200,000. Lakewood Asset Management LLC purchased a new position in shares of Miller Industries during the 3rd quarter valued at $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 valued at $314,000 after buying an additional 2,364 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Miller Industries Stock Performance

Shares of NYSE MLR traded up $0.94 during midday trading on Monday, hitting $73.84. 46,807 shares of the stock traded hands, compared to its average volume of 77,261. 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 one year low of $38.33 and a one year high of $78.25. The firm has a market capitalization of $844.73 million, a P/E ratio of 12.09 and a beta of 0.96. The firm has a 50-day moving average of $67.81 and a two-hundred day moving average of $62.33.

Miller Industries (NYSE:MLR - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, hitting 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 prior year, the firm posted $1.52 earnings per share. On average, equities analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Monday, December 2nd. Miller Industries's dividend payout ratio (DPR) is currently 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.