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

The Manufacturers Life Insurance Company lifted its stake in Miller Industries, Inc. (NYSE:MLR) by 188.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,391 shares of the auto parts company’s stock after buying an additional 24,449 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.33% of Miller Industries worth $2,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLR. Charles Schwab Investment Management Inc. boosted its position in Miller Industries by 193.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company’s stock worth $5,670,000 after purchasing an additional 61,247 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Miller Industries by 12.9% in the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock valued at $30,288,000 after purchasing an additional 56,578 shares during the period. Millennium Management LLC boosted its holdings in Miller Industries by 94.1% during the second quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock worth $3,486,000 after buying an additional 30,714 shares in the last quarter. Narwhal Capital Management grew its position in Miller Industries by 31.2% during the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after buying an additional 26,983 shares during the period. Finally, Algert Global LLC increased its holdings in Miller Industries by 348.1% in the third quarter. Algert Global LLC now owns 28,783 shares of the auto parts company’s stock valued at $1,756,000 after buying an additional 22,359 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Stock Performance

NYSE:MLR opened at $72.90 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The stock has a market capitalization of $833.98 million, a PE ratio of 12.09 and a beta of 0.96. Miller Industries, Inc. has a fifty-two week low of $38.33 and a fifty-two week high of $78.25. The company has a fifty day moving average of $67.81 and a two-hundred day moving average of $62.33.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, hitting the consensus estimate of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The firm had revenue of $314.27 million during the quarter. During the same quarter last year, the company earned $1.52 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, December 2nd. Miller Industries’s dividend payout ratio is presently 12.60%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MLR. StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and set a $82.00 price target on shares of Miller Industries in a research report on Friday, November 15th.

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.