Connor Clark & Lunn Investment Management Ltd. Acquires 1,297 Shares of Miller Industries, Inc. (NYSE:MLR)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Miller Industries, Inc. (NYSE:MLR) by 18.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,303 shares of the auto parts company’s stock after acquiring an additional 1,297 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Miller Industries worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Royce & Associates LP grew its stake in shares of Miller Industries by 12.9% in the third quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock worth $30,288,000 after acquiring an additional 56,578 shares during the last quarter. Millennium Management LLC grew its position in Miller Industries by 94.1% during the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock valued at $3,486,000 after purchasing an additional 30,714 shares during the last quarter. Narwhal Capital Management increased its stake in Miller Industries by 31.2% during the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after purchasing an additional 26,983 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Miller Industries in the second quarter worth about $1,079,000. Finally, Marshall Wace LLP bought a new position in shares of Miller Industries in the second quarter worth approximately $721,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MLR has been the subject of a number of recent analyst reports. DA Davidson restated a “buy” rating and issued a $82.00 price objective on shares of Miller Industries in a report on Friday, November 15th. StockNews.com cut Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Miller Industries Stock Performance

Shares of NYSE MLR opened at $73.86 on Friday. The firm’s 50-day moving average price is $66.48 and its 200-day moving average price is $61.81. Miller Industries, Inc. has a 52-week low of $38.33 and a 52-week high of $78.25. The company has a market cap of $844.96 million, a PE ratio of 12.25 and a beta of 0.94. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16.

Miller Industries (NYSE:MLR) last issued its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.33. The company had revenue of $314.27 million for the quarter. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. During the same quarter in the prior year, the business posted $1.52 EPS. As a group, analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Monday, December 2nd. Miller Industries’s dividend payout ratio (DPR) is presently 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.