Insider Selling: Miller Industries, Inc. (NYSE:MLR) Director Sells 6,000 Shares of Stock

Miller Industries, Inc. (NYSE:MLR) Director Theodore H. Ashford III sold 6,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $32.30, for a total transaction of $193,800.00. Following the completion of the transaction, the director now directly owns 13,903 shares of the company’s stock, valued at $449,066.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Miller Industries stock traded up $0.12 during midday trading on Tuesday, hitting $32.61. The company had a trading volume of 33,703 shares, compared to its average volume of 38,678. The stock has a market capitalization of $367.20 million, a PE ratio of 9.45 and a beta of 0.99. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $30.93. Miller Industries, Inc. has a 12-month low of $22.80 and a 12-month high of $35.26.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $0.94 EPS for the quarter. The firm had revenue of $222.35 million during the quarter. Miller Industries had a net margin of 4.88% and a return on equity of 16.81%.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, September 6th.

A number of institutional investors and hedge funds have recently bought and sold shares of MLR. Advisory Services Network LLC purchased a new position in Miller Industries during the 2nd quarter worth approximately $30,000. BNP Paribas Arbitrage SA grew its stake in Miller Industries by 688.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,311 shares of the auto parts company’s stock valued at $71,000 after acquiring an additional 2,018 shares during the period. Value Holdings Management CO. LLC acquired a new stake in Miller Industries in the 1st quarter valued at $93,000. Metropolitan Life Insurance Co. NY grew its stake in Miller Industries by 383.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,247 shares of the auto parts company’s stock valued at $115,000 after acquiring an additional 3,369 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Miller Industries in the 2nd quarter valued at $135,000. 86.81% of the stock is owned by institutional investors.

Separately, ValuEngine lowered shares of Miller Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

About Miller Industries

Miller Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. It 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 that are used to transport new or disabled vehicles and other equipment.

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