Theodore H. Ashford III Sells 8,000 Shares of Miller Industries, Inc. (NYSE:MLR) Stock

Miller Industries, Inc. (NYSE:MLR) Director Theodore H. Ashford III sold 8,000 shares of Miller Industries stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $32.22, for a total value of $257,760.00. Following the sale, the director now directly owns 13,903 shares in the company, valued at $447,954.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of MLR stock traded up $0.12 during mid-day trading on Tuesday, reaching $32.61. 33,914 shares of the stock traded hands, compared to its average volume of 38,678. The business has a fifty day moving average price of $30.93. Miller Industries, Inc. has a 1-year low of $22.80 and a 1-year high of $35.26. The stock has a market capitalization of $367.20 million, a P/E ratio of 9.45 and a beta of 0.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.47 and a current ratio of 2.05.

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



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

Institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new position in shares of Miller Industries during the second quarter worth about $30,000. BNP Paribas Arbitrage SA raised its position in shares of Miller Industries by 688.7% during the first quarter. BNP Paribas Arbitrage SA now owns 2,311 shares of the auto parts company’s stock worth $71,000 after acquiring an additional 2,018 shares during the last quarter. Value Holdings Management CO. LLC bought a new position in shares of Miller Industries during the first quarter worth about $93,000. Metropolitan Life Insurance Co. NY raised its position in shares of Miller Industries by 383.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,247 shares of the auto parts company’s stock worth $115,000 after acquiring an additional 3,369 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Miller Industries during the second quarter worth about $135,000. Institutional investors own 86.81% of the company’s stock.

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

Miller Industries Company Profile

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.

Further Reading: Outstanding Shares and The Effect on Share Price

Receive News & Ratings for Miller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Miller Industries and related companies with MarketBeat.com's FREE daily email newsletter.