Miller Industries, Inc. $MLR Shares Purchased by North Star Investment Management Corp.

North Star Investment Management Corp. boosted its holdings in Miller Industries, Inc. (NYSE:MLR) by 73.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,506 shares of the auto parts company’s stock after buying an additional 26,000 shares during the quarter. North Star Investment Management Corp. owned approximately 0.54% of Miller Industries worth $2,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Miller Industries by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 566,171 shares of the auto parts company’s stock valued at $22,885,000 after acquiring an additional 101,973 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Miller Industries by 2.1% in the fourth quarter. Systematic Financial Management LP now owns 440,596 shares of the auto parts company’s stock valued at $16,465,000 after purchasing an additional 9,170 shares in the last quarter. First Wilshire Securities Management Inc. boosted its holdings in Miller Industries by 980.1% in the fourth quarter. First Wilshire Securities Management Inc. now owns 298,801 shares of the auto parts company’s stock valued at $11,166,000 after purchasing an additional 271,136 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Miller Industries by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company’s stock valued at $12,160,000 after purchasing an additional 112,925 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Miller Industries by 19.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 205,372 shares of the auto parts company’s stock valued at $7,675,000 after purchasing an additional 33,966 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Miller Industries Trading Down 0.6%

MLR opened at $52.62 on Monday. The firm has a market cap of $599.88 million, a price-to-earnings ratio of 39.27 and a beta of 1.11. Miller Industries, Inc. has a 52 week low of $33.81 and a 52 week high of $52.93. The business’s 50 day moving average is $48.13 and its two-hundred day moving average is $44.37. The company has a quick ratio of 1.78, a current ratio of 2.98 and a debt-to-equity ratio of 0.05.

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

Miller Industries Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.6%. Miller Industries’s dividend payout ratio is 62.69%.

Analyst Upgrades and Downgrades

MLR has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a research report on Wednesday. Zacks Research downgraded shares of Miller Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. DA Davidson lifted their price target on shares of Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Loop Capital set a $44.00 price target on shares of Miller Industries in a research report on Monday, March 9th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.00.

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.