Huber Capital Management LLC Sells 12,088 Shares of Miller Industries, Inc. $MLR

Huber Capital Management LLC lessened its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 45.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,703 shares of the auto parts company’s stock after selling 12,088 shares during the period. Huber Capital Management LLC’s holdings in Miller Industries were worth $549,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in shares of Miller Industries during the 3rd quarter valued at about $1,598,000. Citigroup Inc. boosted its position in shares of Miller Industries by 219.6% during the 3rd quarter. Citigroup Inc. now owns 63,227 shares of the auto parts company’s stock valued at $2,556,000 after acquiring an additional 43,444 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in shares of Miller Industries by 24.3% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 121,261 shares of the auto parts company’s stock valued at $4,901,000 after acquiring an additional 23,683 shares during the last quarter. Azarias Capital Management L.P. bought a new stake in shares of Miller Industries during the 4th quarter valued at about $1,497,000. Finally, Invenomic Capital Management LP bought a new stake in shares of Miller Industries during the 3rd quarter valued at about $4,442,000. Institutional investors own 79.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MLR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a research report on Friday, March 27th. DA Davidson lifted their price target on Miller Industries from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Loop Capital set a $44.00 price target on Miller Industries in a research report on Monday, March 9th. Finally, Zacks Research downgraded Miller Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Miller Industries Stock Performance

NYSE:MLR opened at $48.73 on Friday. The business has a 50 day moving average of $47.52 and a 200 day moving average of $43.48. The company has a market capitalization of $555.50 million, a price-to-earnings ratio of 36.36 and a beta of 1.11. Miller Industries, Inc. has a 1-year low of $33.81 and a 1-year high of $49.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.98 and a quick ratio of 1.78.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The firm had revenue of $180.86 million during the quarter, compared to the consensus estimate of $181.10 million. Miller Industries had a return on equity of 3.70% and a net margin of 2.08%. On average, sell-side analysts predict that Miller Industries, Inc. will post 1.9 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were given a $0.21 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.84 dividend on an annualized basis and a yield of 1.7%. Miller Industries’s payout ratio is presently 62.69%.

Miller Industries Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.