AQR Capital Management LLC Buys New Shares in Miller Industries, Inc. (NYSE:MLR)

AQR Capital Management LLC purchased a new stake in Miller Industries, Inc. (NYSE:MLR) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,391 shares of the auto parts company’s stock, valued at approximately $407,000. AQR Capital Management LLC owned approximately 0.06% of Miller Industries at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Miller Industries during the second quarter valued at about $39,000. Point72 DIFC Ltd increased its holdings in Miller Industries by 146.9% during the 2nd 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 in the last quarter. EntryPoint Capital LLC boosted its position in shares of Miller Industries by 101.3% during the first 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 during the last quarter. Quest Partners LLC bought a new stake in Miller Industries during the second quarter worth $200,000. Finally, Virtu Financial LLC purchased a new stake in Miller Industries in the 4th quarter valued at $233,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson initiated coverage on shares of Miller Industries in a research report on Wednesday, October 2nd. They set a “buy” rating and a $82.00 price target for the company. StockNews.com downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th.

Miller Industries Stock Down 0.9 %

Shares of NYSE:MLR opened at $62.78 on Wednesday. The firm has a market capitalization of $720.09 million, a PE ratio of 10.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. Miller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $69.75. The firm has a fifty day moving average of $60.09 and a 200 day moving average of $57.92.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share (EPS) for the quarter. The firm had revenue of $371.45 million for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. As a group, research analysts anticipate that Miller Industries, Inc. will post 5.6 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Monday, September 9th. Miller Industries’s payout ratio is currently 13.26%.

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.