BNP Paribas Financial Markets Raises Position in Miller Industries, Inc. (NYSE:MLR)

BNP Paribas Financial Markets lifted its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 90.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,856 shares of the auto parts company's stock after acquiring an additional 22,274 shares during the quarter. BNP Paribas Financial Markets owned 0.41% of Miller Industries worth $2,858,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Miller Industries by 10.2% during the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company's stock worth $46,764,000 after purchasing an additional 71,231 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Miller Industries by 12.9% in the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company's stock valued at $30,288,000 after buying an additional 56,578 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Miller Industries by 1.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company's stock worth $8,500,000 after buying an additional 1,722 shares during the last quarter. AdvisorShares Investments LLC lifted its position in Miller Industries by 7.4% during the second quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company's stock valued at $7,426,000 after acquiring an additional 9,384 shares during the last quarter. Finally, Narwhal Capital Management boosted its stake in Miller Industries by 31.2% in the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company's stock valued at $6,928,000 after acquiring an additional 26,983 shares in the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Stock Performance

NYSE MLR traded up $0.19 during trading hours on Friday, reaching $72.90. The stock had a trading volume of 70,035 shares, compared to its average volume of 77,395. Miller Industries, Inc. has a 52-week low of $38.33 and a 52-week high of $78.25. The stock has a fifty day moving average of $67.81 and a 200 day moving average of $62.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The stock has a market cap of $833.90 million, a P/E ratio of 12.09 and a beta of 0.96.

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

Miller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, December 2nd. Miller Industries's dividend payout ratio (DPR) is presently 12.60%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MLR. DA Davidson reaffirmed a "buy" rating and issued a $82.00 price objective on shares of Miller Industries in a research report 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.

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.