State Street Corp Has $14.08 Million Stock Position in Miller Industries, Inc. (NYSE:MLR)

State Street Corp raised its position in shares of Miller Industries, Inc. (NYSE:MLR) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,828 shares of the auto parts company’s stock after purchasing an additional 9,482 shares during the period. State Street Corp owned approximately 2.02% of Miller Industries worth $14,081,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MLR. FMR LLC grew its holdings in Miller Industries by 10.2% during the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after acquiring an additional 71,231 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Miller Industries by 12.9% during the third 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. Systematic Financial Management LP increased its holdings in shares of Miller Industries by 2.0% during the third quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock valued at $24,105,000 after acquiring an additional 7,586 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Miller Industries by 11.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company’s stock worth $22,435,000 after acquiring an additional 37,480 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Miller Industries by 1.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company’s stock worth $8,500,000 after buying an additional 1,722 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MLR. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. DA Davidson restated a “buy” rating and issued a $82.00 target price on shares of Miller Industries in a research note on Friday, November 15th.

Miller Industries Trading Up 1.7 %

NYSE MLR opened at $67.55 on Wednesday. The business’s fifty day moving average is $69.59 and its 200-day moving average is $63.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. The stock has a market capitalization of $772.70 million, a price-to-earnings ratio of 11.20 and a beta of 0.96. Miller Industries, Inc. has a one year low of $38.33 and a one year high of $78.25.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 EPS 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 business had revenue of $314.27 million for the quarter. During the same period in the prior year, the firm posted $1.52 EPS. Equities research analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, December 2nd. Miller Industries’s dividend payout ratio (DPR) is 12.60%.

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.