Systematic Financial Management LP Raises Stock Position in Miller Industries, Inc. (NYSE:MLR)

Systematic Financial Management LP increased its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 395,159 shares of the auto parts company's stock after acquiring an additional 7,586 shares during the quarter. Systematic Financial Management LP owned about 3.45% of Miller Industries worth $24,105,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Miller Industries in the third quarter valued at approximately $1,093,000. Janus Henderson Group PLC boosted its position in shares of Miller Industries by 49.9% in the third quarter. Janus Henderson Group PLC now owns 15,504 shares of the auto parts company's stock valued at $945,000 after acquiring an additional 5,160 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Miller Industries by 11.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company's stock valued at $22,435,000 after acquiring an additional 37,480 shares during the period. Verition Fund Management LLC boosted its position in shares of 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 valued at $352,000 after acquiring an additional 194 shares during the period. Finally, Isthmus Partners LLC bought a new stake in Miller Industries during the third quarter valued at approximately $1,354,000. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Trading Down 2.2 %

Shares of MLR traded down $1.62 during mid-day trading on Thursday, reaching $72.71. The company's stock had a trading volume of 57,080 shares, compared to its average volume of 77,275. The stock has a market cap of $831.80 million, a PE ratio of 12.30 and a beta of 0.96. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a 52 week low of $38.33 and a 52 week high of $78.25. The company's fifty day moving average price is $67.30 and its two-hundred day moving average price is $62.12.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, hitting analysts' consensus estimates of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The firm had revenue of $314.27 million during the quarter. During the same quarter in the previous year, the firm posted $1.52 earnings per share. On average, analysts predict that Miller Industries, Inc. will post 5.68 earnings per share 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. Shareholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, December 2nd. Miller Industries's payout ratio is currently 12.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MLR shares. StockNews.com lowered shares of Miller Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th. DA Davidson reiterated 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 Company 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.