Miller Industries, Inc. (NYSE:MLR) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of Miller Industries, Inc. (NYSE:MLR) from a sell rating to a hold rating in a report published on Thursday.
Shares of Miller Industries (NYSE:MLR) traded up 0.99% during trading on Thursday, reaching $25.50. 9,531 shares of the company traded hands. The stock has a market capitalization of $289.45 million, a P/E ratio of 14.25 and a beta of 0.58. The firm’s 50 day moving average is $25.45 and its 200-day moving average is $25.32. Miller Industries has a 12-month low of $20.56 and a 12-month high of $28.85.
Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, May 3rd. The auto parts company reported $0.34 earnings per share for the quarter. The business had revenue of $148.93 million for the quarter. Miller Industries had a net margin of 3.39% and a return on equity of 11.09%.
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In other Miller Industries news, CEO William G. Miller II sold 24,500 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $25.66, for a total value of $628,670.00. Following the sale, the chief executive officer now owns 24,500 shares in the company, valued at $628,670. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey I. Badgley sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $25.84, for a total transaction of $51,680.00. Following the completion of the sale, the chief executive officer now owns 13,000 shares in the company, valued at approximately $335,920. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MLR. Bank of New York Mellon Corp increased its position in shares of Miller Industries by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 144,037 shares of the auto parts company’s stock valued at $3,579,000 after buying an additional 1,073 shares in the last quarter. Algert Global LLC purchased a new position in shares of Miller Industries during the second quarter valued at about $291,000. Bessemer Group Inc. increased its position in shares of Miller Industries by 8,139.4% in the second quarter. Bessemer Group Inc. now owns 11,700 shares of the auto parts company’s stock valued at $291,000 after buying an additional 11,558 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Miller Industries during the second quarter valued at about $171,000. Hedge funds and other institutional investors own 84.43% of the company’s stock.
About Miller Industries
Miller Industries, Inc is a manufacturer of towing and recovery equipment. The Company manufactures the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. It has domestic manufacturing operations in Tennessee and Pennsylvania, and foreign manufacturing operations in France and the United Kingdom.
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