The Manufacturers Life Insurance Company Increases Stock Holdings in Miller Industries, Inc. (NYSE:MLR)

The Manufacturers Life Insurance Company lifted its holdings in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 188.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,391 shares of the auto parts company's stock after purchasing an additional 24,449 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.33% of Miller Industries worth $2,281,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Miller Industries during the second quarter worth approximately $39,000. Point72 DIFC Ltd increased its stake in shares of Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company's stock worth $55,000 after buying an additional 595 shares during the period. Quest Partners LLC purchased a new stake in shares of Miller Industries during the second quarter worth approximately $200,000. Lakewood Asset Management LLC purchased a new stake in shares of Miller Industries during the third quarter worth approximately $250,000. Finally, SG Americas Securities LLC increased its stake in shares of Miller Industries by 84.8% during the third quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company's stock worth $314,000 after buying an additional 2,364 shares during the period. Institutional investors and hedge funds own 79.24% of the company's stock.

Wall Street Analyst Weigh In

MLR has been the topic of a number of recent research reports. DA Davidson restated a "buy" rating and set a $82.00 target price on shares of Miller Industries in a research note on Friday, November 15th. StockNews.com lowered shares of Miller Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th.

Miller Industries Stock Performance

Shares of MLR stock traded up $0.65 during trading hours on Monday, hitting $73.55. The stock had a trading volume of 100,807 shares, compared to its average volume of 77,494. The firm has a market capitalization of $841.41 million, a PE ratio of 12.09 and a beta of 0.96. Miller Industries, Inc. has a twelve month low of $38.33 and a twelve month high of $78.25. The stock's 50 day moving average is $67.81 and its 200 day moving average is $62.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46.

Miller Industries (NYSE:MLR - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $314.27 million during the quarter. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, research analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

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 issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Monday, December 2nd. Miller Industries's dividend payout ratio (DPR) is currently 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.