Sanctuary Advisors LLC Makes New Investment in Miller Industries, Inc. (NYSE:MLR)

Sanctuary Advisors LLC acquired a new stake in shares of Miller Industries, Inc. (NYSE:MLR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,204 shares of the auto parts company’s stock, valued at approximately $195,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLR. FMR LLC lifted its position in Miller Industries by 10.2% during the third quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock valued at $46,764,000 after purchasing an additional 71,231 shares during the last quarter. Royce & Associates LP grew its stake 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 buying an additional 56,578 shares during the last quarter. Systematic Financial Management LP lifted its stake in shares of Miller Industries by 2.0% during the 3rd quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock worth $24,105,000 after acquiring an additional 7,586 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Miller Industries by 11.3% in 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 purchasing an additional 37,480 shares during the period. Finally, State Street Corp lifted its position in shares of Miller Industries by 4.3% during the third quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock worth $14,081,000 after purchasing an additional 9,482 shares during the last quarter. 79.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MLR. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. DA Davidson reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Miller Industries in a research note on Friday, November 15th.

Miller Industries Price Performance

Shares of MLR stock opened at $65.70 on Monday. 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 debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The firm has a market capitalization of $751.54 million, a price-to-earnings ratio of 10.90 and a beta of 0.96. The stock’s 50-day simple moving average is $69.86 and its 200-day simple moving average is $63.46.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.33. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. The business had revenue of $314.27 million for the quarter. During the same period in the prior year, the company posted $1.52 earnings per share. As a group, equities 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 was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Monday, December 2nd. Miller Industries’s dividend payout ratio 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.