Hotchkis & Wiley Capital Management LLC Boosts Stock Position in Miller Industries, Inc. (NYSE:MLR)

Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,793 shares of the auto parts company's stock after buying an additional 37,480 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 3.21% of Miller Industries worth $22,435,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Verition Fund Management LLC boosted its position in Miller Industries by 3.5% in the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company's stock worth $352,000 after purchasing an additional 194 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Miller Industries by 2.5% in the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company's stock worth $452,000 after purchasing an additional 201 shares during the last quarter. Ellsworth Advisors LLC boosted its position in Miller Industries by 3.6% in the third quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company's stock worth $722,000 after purchasing an additional 411 shares during the last quarter. Point72 DIFC Ltd boosted its position in Miller Industries by 146.9% in the second 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 last quarter. Finally, Innealta Capital LLC purchased a new position in Miller Industries in the second quarter worth about $39,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MLR. DA Davidson reissued a "buy" rating and issued a $82.00 target price 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 report on Wednesday, November 13th.

Miller Industries Stock Performance

Shares of MLR stock traded up $0.16 during trading hours on Wednesday, reaching $74.18. 64,960 shares of the company traded hands, compared to its average volume of 77,362. 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 company has a market cap of $848.62 million, a P/E ratio of 12.30 and a beta of 0.96. The firm has a 50-day moving average price of $67.30 and a 200 day moving average price of $62.12.

Miller Industries (NYSE:MLR - Get Free Report) last issued its earnings results 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. The company had revenue of $314.27 million for the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same period last year, the business posted $1.52 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders 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 yield of 1.02%. The ex-dividend date is Monday, December 2nd. Miller Industries's payout ratio is 12.60%.

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.