8,130 Shares in Miller Industries, Inc. (NYSE:MLR) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in Miller Industries, Inc. (NYSE:MLR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,130 shares of the auto parts company’s stock, valued at approximately $496,000. Principal Financial Group Inc. owned about 0.07% of Miller Industries as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Innealta Capital LLC bought a new position in Miller Industries during the second quarter worth about $39,000. Point72 DIFC Ltd boosted its holdings in 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 buying an additional 595 shares during the period. Quest Partners LLC purchased a new position in Miller Industries in the 2nd quarter valued at approximately $200,000. Lakewood Asset Management LLC purchased a new position in Miller Industries in the 3rd quarter valued at approximately $250,000. Finally, SG Americas Securities LLC raised its holdings in Miller Industries by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock valued at $314,000 after acquiring an additional 2,364 shares during the period. 79.24% of the stock is owned by institutional investors.

Miller Industries Trading Up 7.0 %

Shares of MLR opened at $71.93 on Monday. The firm has a fifty day simple moving average of $65.06 and a two-hundred day simple moving average of $61.25. Miller Industries, Inc. has a twelve month low of $38.33 and a twelve month high of $78.25. The stock has a market capitalization of $822.81 million, a P/E ratio of 11.93 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 posted its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.33. The business had revenue of $314.27 million during the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same quarter last year, the company posted $1.52 EPS. On average, research analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.06%. Miller Industries’s dividend payout ratio (DPR) is currently 12.60%.

Analysts Set New Price Targets

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

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.