Geode Capital Management LLC Raises Position in Miller Industries, Inc. (NYSE:MLR)

Geode Capital Management LLC boosted its stake in Miller Industries, Inc. (NYSE:MLR) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,247 shares of the auto parts company’s stock after purchasing an additional 490 shares during the quarter. Geode Capital Management LLC owned about 2.34% of Miller Industries worth $16,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of Miller Industries by 115.6% during the 3rd quarter. Barclays PLC now owns 28,131 shares of the auto parts company’s stock valued at $1,717,000 after purchasing an additional 15,082 shares during the last quarter. State Street Corp raised its holdings in Miller Industries by 4.3% during the 3rd quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock valued at $14,081,000 after buying an additional 9,482 shares during the last quarter. Systematic Financial Management LP boosted 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 worth $24,105,000 after purchasing an additional 7,586 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Miller Industries during the 3rd quarter valued at about $1,093,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Miller Industries by 49.9% during the third quarter. Janus Henderson Group PLC now owns 15,504 shares of the auto parts company’s stock valued at $945,000 after acquiring an additional 5,160 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Performance

MLR stock opened at $65.70 on Monday. 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, Inc. has a 12-month low of $38.33 and a 12-month high of $78.25. The stock has a market capitalization of $751.54 million, a PE 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 issued its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (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 company had revenue of $314.27 million for the quarter. During the same quarter in the prior year, the business posted $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 firm also recently disclosed 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 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, December 2nd. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. DA Davidson reissued a “buy” rating and set a $82.00 price objective on shares of Miller Industries in a research report on Friday, November 15th. StockNews.com downgraded Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

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.