GHP Investment Advisors Inc. Sells 5,079 Shares of Miller Industries, Inc. (NYSE:MLR)

GHP Investment Advisors Inc. lowered its stake in Miller Industries, Inc. (NYSE:MLR - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 46,768 shares of the auto parts company's stock after selling 5,079 shares during the period. GHP Investment Advisors Inc. owned approximately 0.41% of Miller Industries worth $3,057,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MLR. Yorktown Management & Research Co Inc acquired a new stake in Miller Industries in the 4th quarter worth about $307,000. R Squared Ltd bought a new stake in shares of Miller Industries in the fourth quarter valued at approximately $36,000. Redmont Wealth Advisors LLC grew its position in Miller Industries by 2.3% during the fourth quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company's stock worth $810,000 after buying an additional 282 shares in the last quarter. SG Americas Securities LLC increased its stake in Miller Industries by 5.2% during the 4th quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company's stock worth $354,000 after acquiring an additional 270 shares during the period. Finally, Ellsworth Advisors LLC raised its holdings in Miller Industries by 4.2% in the 4th quarter. Ellsworth Advisors LLC now owns 12,334 shares of the auto parts company's stock valued at $806,000 after acquiring an additional 492 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on MLR. StockNews.com downgraded Miller Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. DA Davidson restated a "buy" rating and issued a $82.00 target price on shares of Miller Industries in a research report on Friday, November 15th.

Miller Industries Price Performance

Shares of MLR traded down $0.02 during midday trading on Monday, hitting $65.08. The company's stock had a trading volume of 34,067 shares, compared to its average volume of 78,549. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a one year low of $41.94 and a one year high of $78.25. The stock has a market capitalization of $744.52 million, a price-to-earnings ratio of 10.78 and a beta of 0.97. The company's fifty day simple moving average is $67.97 and its two-hundred day simple moving average is $65.27.

Miller Industries (NYSE:MLR - Get Free Report) last released its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) 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 firm had revenue of $314.27 million for the quarter. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, equities analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.17%. The ex-dividend date was 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.