Narwhal Capital Management Lowers Holdings in Miller Industries, Inc. (NYSE:MLR)

Narwhal Capital Management trimmed its position in shares of Miller Industries, Inc. (NYSE:MLR) by 10.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 101,226 shares of the auto parts company’s stock after selling 12,342 shares during the quarter. Narwhal Capital Management owned about 0.88% of Miller Industries worth $6,616,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Verition Fund Management LLC grew its holdings in shares of Miller Industries by 3.5% during the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock valued at $352,000 after buying an additional 194 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Miller Industries by 2.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock worth $452,000 after purchasing an additional 201 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Miller Industries by 5.2% in the fourth quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company’s stock worth $354,000 after purchasing an additional 270 shares during the last quarter. Redmont Wealth Advisors LLC lifted its holdings in shares of Miller Industries by 2.3% during the fourth quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company’s stock valued at $810,000 after purchasing an additional 282 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Miller Industries by 1.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 21,775 shares of the auto parts company’s stock valued at $1,423,000 after buying an additional 295 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Trading Down 3.5 %

Miller Industries stock opened at $66.75 on Monday. Miller Industries, Inc. has a 52-week low of $39.92 and a 52-week high of $78.25. The company has a market cap of $763.63 million, a P/E ratio of 11.07 and a beta of 0.98. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $68.96 and a two-hundred day simple moving average of $64.96.

Miller Industries (NYSE:MLR) last announced its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, meeting 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 during the quarter. During the same quarter last year, the firm posted $1.52 earnings per share. Analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.14%. Miller Industries’s dividend payout ratio is currently 12.60%.

Analyst Upgrades and Downgrades

MLR has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. DA Davidson reissued a “buy” rating and set a $82.00 price target on shares of Miller Industries in a report on Friday, November 15th.

About Miller Industries

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.