Miller Industries, Inc. (NYSE:MLR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Miller Industries, Inc. (NYSE:MLR) by 12.9% during the third quarter, HoldingsChannel reports. The firm owned 117,468 shares of the auto parts company’s stock after selling 17,427 shares during the period. Mutual of America Capital Management LLC’s holdings in Miller Industries were worth $7,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Royce & Associates LP lifted its position in Miller Industries by 12.9% during the third quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock worth $30,288,000 after buying an additional 56,578 shares in the last quarter. Millennium Management LLC increased its stake in shares of Miller Industries by 94.1% in the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock worth $3,486,000 after acquiring an additional 30,714 shares during the last quarter. Narwhal Capital Management raised its holdings in shares of Miller Industries by 31.2% during the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock worth $6,928,000 after acquiring an additional 26,983 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Miller Industries during the 2nd quarter valued at about $1,079,000. Finally, Marshall Wace LLP purchased a new stake in shares of Miller Industries in the second quarter valued at about $721,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Miller Industries Stock Up 1.6 %

Shares of MLR opened at $67.25 on Tuesday. The company’s 50-day moving average price is $63.98 and its 200 day moving average price is $60.78. Miller Industries, Inc. has a 12-month low of $38.33 and a 12-month high of $78.25. The company has a current ratio of 2.12, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16. The firm has a market cap of $769.34 million, a P/E ratio of 10.97 and a beta of 0.94.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.33. The business had revenue of $314.27 million for the quarter. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. During the same period last year, the firm posted $1.52 earnings per share. On average, sell-side analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

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 given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.13%. Miller Industries’s dividend payout ratio is currently 12.60%.

Analysts Set New Price Targets

A number of brokerages have commented on MLR. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and issued a $82.00 price objective on shares of Miller Industries in a report on Friday.

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.