Deprince Race & Zollo Inc. Purchases New Stake in Miller Industries, Inc. $MLR

Deprince Race & Zollo Inc. acquired a new position in shares of Miller Industries, Inc. (NYSE:MLR) in the 1st quarter, Holdings Channel.com reports. The firm acquired 58,140 shares of the auto parts company’s stock, valued at approximately $2,648,000.

A number of other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Miller Industries by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock valued at $281,000 after buying an additional 312 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Miller Industries by 66.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock worth $37,000 after acquiring an additional 329 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Miller Industries by 4.0% during the 4th quarter. SG Americas Securities LLC now owns 13,141 shares of the auto parts company’s stock worth $491,000 after acquiring an additional 504 shares during the period. Osaic Holdings Inc. boosted its position in shares of Miller Industries by 7.5% during the 4th quarter. Osaic Holdings Inc. now owns 7,977 shares of the auto parts company’s stock worth $298,000 after acquiring an additional 556 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Miller Industries by 200.0% during the 4th quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock worth $34,000 after acquiring an additional 604 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MLR has been the topic of a number of recent analyst reports. 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 raised their target price on Miller Industries from $53.00 to $56.00 and gave the company a “buy” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a research note on Wednesday, June 24th. Finally, Loop Capital set a $44.00 price target on Miller Industries in a research note on Monday, March 9th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.00.

Miller Industries Trading Down 3.4%

MLR opened at $49.20 on Friday. The company’s 50 day moving average is $48.41 and its 200-day moving average is $44.72. Miller Industries, Inc. has a 1-year low of $33.81 and a 1-year high of $52.93. The company has a current ratio of 2.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The company has a market cap of $560.83 million, a P/E ratio of 36.71 and a beta of 1.10.

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

Miller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.84 annualized dividend and a dividend yield of 1.7%. Miller Industries’s dividend payout ratio (DPR) is 62.69%.

About Miller Industries

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.