120,000 Shares in Miller Industries, Inc. $MLR Acquired by Heartland Advisors Inc.

Heartland Advisors Inc. bought a new position in shares of Miller Industries, Inc. (NYSE:MLR) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 120,000 shares of the auto parts company’s stock, valued at approximately $5,466,000.

Several other hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its stake in Miller Industries by 17.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 91,977 shares of the auto parts company’s stock worth $4,224,000 after buying an additional 13,564 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Miller Industries by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 116,123 shares of the auto parts company’s stock valued at $5,289,000 after acquiring an additional 4,305 shares during the period. Diversified Investment Strategies LLC raised its stake in shares of Miller Industries by 0.9% in the 1st quarter. Diversified Investment Strategies LLC now owns 106,920 shares of the auto parts company’s stock valued at $4,870,000 after acquiring an additional 950 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Miller Industries during the 1st quarter valued at $279,000. Finally, Isthmus Partners LLC lifted its holdings in shares of Miller Industries by 15.0% during the 1st quarter. Isthmus Partners LLC now owns 72,516 shares of the auto parts company’s stock valued at $3,303,000 after acquiring an additional 9,456 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Down 0.1%

Shares of NYSE:MLR opened at $49.57 on Monday. 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, Inc. has a 52-week low of $33.81 and a 52-week high of $52.93. The company has a 50 day moving average of $48.68 and a two-hundred day moving average of $45.56. The company has a market capitalization of $565.08 million, a price-to-earnings ratio of 36.99 and a beta of 1.10.

Miller Industries (NYSE:MLR) last posted 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). Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. The firm had revenue of $180.86 million for the quarter, compared to analysts’ expectations of $181.10 million. As a group, analysts forecast that Miller Industries, Inc. will post 1.9 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently declared 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. This represents a $0.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. Miller Industries’s dividend payout ratio (DPR) is presently 62.69%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MLR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miller Industries in a research report on Wednesday, June 24th. Zacks Research raised Miller Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Finally, DA Davidson boosted their price objective on Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.00.

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.