Algert Global LLC Boosts Stake in Miller Industries, Inc. (NYSE:MLR)

Algert Global LLC grew its holdings in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 348.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 28,783 shares of the auto parts company's stock after purchasing an additional 22,359 shares during the period. Algert Global LLC owned approximately 0.25% of Miller Industries worth $1,756,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MLR. Charles Schwab Investment Management Inc. raised its stake in Miller Industries by 193.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company's stock valued at $5,670,000 after buying an additional 61,247 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Miller Industries by 18.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,303 shares of the auto parts company's stock valued at $506,000 after purchasing an additional 1,297 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Miller Industries by 1.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 66,672 shares of the auto parts company's stock valued at $4,067,000 after purchasing an additional 990 shares in the last quarter. Quest Partners LLC raised its holdings in Miller Industries by 127.0% in the third quarter. Quest Partners LLC now owns 8,250 shares of the auto parts company's stock worth $503,000 after buying an additional 4,616 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Miller Industries by 12.9% in the third quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company's stock worth $30,288,000 after buying an additional 56,578 shares in the last quarter. 79.24% of the stock is owned by institutional investors.

Miller Industries Stock Performance

Shares of MLR stock traded up $0.45 during trading hours on Thursday, reaching $74.72. The company had a trading volume of 104,941 shares, compared to its average volume of 77,597. The firm has a market cap of $854.80 million, a PE ratio of 12.39 and a beta of 0.94. The business has a fifty day moving average price of $65.97 and a 200-day moving average price of $61.61. Miller Industries, Inc. has a one year low of $38.33 and a one year high of $78.25. 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 (NYSE:MLR - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share 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 firm had revenue of $314.27 million for the quarter. During the same period in the previous year, the company earned $1.52 earnings per share. Sell-side analysts predict that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. Miller Industries's dividend payout ratio is currently 12.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Miller Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th. DA Davidson restated a "buy" rating and issued a $82.00 price target on shares of Miller Industries in a research note on Friday, November 15th.

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.