JPMorgan Chase & Co. Acquires 13,679 Shares of Miller Industries, Inc. (NYSE:MLR)

JPMorgan Chase & Co. increased its position in Miller Industries, Inc. (NYSE:MLR) by 58.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,963 shares of the auto parts company’s stock after purchasing an additional 13,679 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Miller Industries worth $2,255,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Point72 DIFC Ltd lifted its holdings in shares of Miller Industries by 146.9% in 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. Sanctuary Advisors LLC purchased a new stake in Miller Industries in the 3rd quarter valued at $195,000. Lakewood Asset Management LLC purchased a new stake in Miller Industries in the 3rd quarter valued at $250,000. SG Americas Securities LLC raised its position in Miller Industries by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock valued at $314,000 after buying an additional 2,364 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in Miller Industries by 3.5% in the 3rd quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock valued at $352,000 after buying an additional 194 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Miller Industries Trading Up 0.2 %

NYSE MLR opened at $68.06 on Wednesday. Miller Industries, Inc. has a 12 month low of $39.49 and a 12 month high of $78.25. The firm has a market capitalization of $778.56 million, a P/E ratio of 11.29 and a beta of 0.98. The business has a fifty day simple moving average of $69.08 and a 200 day simple moving average of $64.57. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Miller Industries (NYSE:MLR) last announced its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.33. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. The firm had revenue of $314.27 million during the quarter. During the same period in the prior year, the business earned $1.52 earnings per share. On average, analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, December 2nd. Miller Industries’s dividend payout ratio is presently 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.