Algert Global LLC Invests $353,000 in Miller Industries, Inc. (NYSE:MLR)

Algert Global LLC acquired a new stake in Miller Industries, Inc. (NYSE:MLR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,424 shares of the auto parts company’s stock, valued at approximately $353,000. Algert Global LLC owned 0.06% of Miller Industries at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in Miller Industries in the 2nd quarter valued at approximately $39,000. Point72 DIFC Ltd grew its stake in shares of Miller Industries by 146.9% in the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 595 shares during the last quarter. EntryPoint Capital LLC increased its holdings in Miller Industries by 101.3% in the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after purchasing an additional 913 shares during the period. Voisard Asset Management Group Inc. bought a new position in Miller Industries during the 4th quarter worth $107,000. Finally, Quest Partners LLC acquired a new position in Miller Industries during the 2nd quarter worth about $200,000. Institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Performance

Shares of MLR opened at $62.25 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $60.27 and its two-hundred day simple moving average is $57.47. Miller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $69.75. The stock has a market capitalization of $714.01 million, a P/E ratio of 10.86 and a beta of 0.96.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. The company had revenue of $371.45 million for the quarter.

Miller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.19 per share. The ex-dividend date was Monday, September 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.22%. Miller Industries’s payout ratio is presently 13.26%.

Wall Street Analysts Forecast Growth

MLR has been the subject of several recent research reports. DA Davidson initiated coverage on Miller Industries in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $82.00 price target for the company. StockNews.com lowered shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th.

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.