Royce & Associates LP Increases Holdings in Miller Industries, Inc. (NYSE:MLR)

Royce & Associates LP increased its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 496,528 shares of the auto parts company's stock after buying an additional 56,578 shares during the period. Royce & Associates LP owned about 4.34% of Miller Industries worth $30,288,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. BNP Paribas Financial Markets grew its position in shares of Miller Industries by 62.7% during the first quarter. BNP Paribas Financial Markets now owns 11,762 shares of the auto parts company's stock valued at $589,000 after purchasing an additional 4,534 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Miller Industries by 1,404.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company's stock worth $2,864,000 after buying an additional 53,373 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Miller Industries by 101.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company's stock valued at $91,000 after buying an additional 913 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Miller Industries by 13.6% in the 1st quarter. Quadrature Capital Ltd now owns 22,346 shares of the auto parts company's stock valued at $1,118,000 after acquiring an additional 2,677 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in shares of Miller Industries by 2.4% in the 1st quarter. Kennedy Capital Management LLC now owns 36,707 shares of the auto parts company's stock valued at $1,839,000 after acquiring an additional 853 shares during the last quarter. Hedge funds and other institutional investors own 79.24% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MLR. DA Davidson reissued a "buy" rating and set a $82.00 price objective on shares of Miller Industries in a research note on Friday. StockNews.com lowered Miller Industries from a "buy" rating to a "hold" rating in a report on Wednesday.

Miller Industries Trading Down 1.9 %

Shares of MLR stock traded down $1.25 during trading hours on Friday, reaching $66.16. 112,942 shares of the stock were exchanged, compared to its average volume of 76,300. The firm has a market capitalization of $756.80 million, a price-to-earnings ratio of 10.97 and a beta of 0.94. Miller Industries, Inc. has a 12-month low of $38.33 and a 12-month high of $78.25. The company's 50-day moving average price is $63.98 and its 200-day moving average price is $60.61. The company has a current ratio of 2.12, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16.

Miller Industries (NYSE:MLR - Get Free Report) last announced 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. 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 last year, the firm earned $1.52 EPS. As a group, equities analysts anticipate that Miller Industries, Inc. will post 5.6 earnings per share for the current year.

Miller Industries Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.15%. Miller Industries's payout ratio is 12.60%.

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.