The Manufacturers Life Insurance Company Acquires 8,840 Shares of Miller Industries, Inc. (NYSE:MLR)

The Manufacturers Life Insurance Company increased its position in shares of Miller Industries, Inc. (NYSE:MLR) by 215.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,942 shares of the auto parts company’s stock after purchasing an additional 8,840 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Miller Industries worth $712,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MLR. Virtu Financial LLC acquired a new position in shares of Miller Industries during the fourth quarter valued at $233,000. Quadrature Capital Ltd increased its stake in Miller Industries by 90.4% during the 4th quarter. Quadrature Capital Ltd now owns 19,669 shares of the auto parts company’s stock worth $829,000 after acquiring an additional 9,340 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Miller Industries by 19.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 152,762 shares of the auto parts company’s stock valued at $7,653,000 after purchasing an additional 24,993 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Miller Industries by 62.7% in the 1st 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 during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Miller Industries during the 1st quarter valued at $688,000. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Stock Up 0.6 %

NYSE MLR opened at $63.36 on Tuesday. The business’s 50-day moving average is $60.10 and its 200 day moving average is $57.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44. The stock has a market capitalization of $726.74 million, a PE ratio of 11.06 and a beta of 0.96. Miller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $69.75.

Miller Industries (NYSE:MLR) last posted its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. The firm had revenue of $371.45 million during the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. Sell-side analysts forecast that Miller Industries, Inc. will post 5.6 earnings per share for the current year.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, September 9th. Miller Industries’s dividend payout ratio (DPR) is currently 13.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Miller Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 12th. DA Davidson began coverage on Miller Industries in a report on Wednesday, October 2nd. They issued a “buy” rating and a $82.00 target price for the company.

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.