Raymond James Financial Services Advisors Inc. reduced its stake in Miller Industries, Inc. (NYSE:MLR – Free Report) by 11.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,922 shares of the auto parts company’s stock after selling 1,391 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.10% of Miller Industries worth $387,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Brandywine Global Investment Management LLC bought a new stake in Miller Industries during the 1st quarter worth approximately $218,000. Legato Capital Management LLC lifted its holdings in Miller Industries by 9.4% during the 1st quarter. Legato Capital Management LLC now owns 40,289 shares of the auto parts company’s stock worth $1,424,000 after buying an additional 3,447 shares in the last quarter. AdvisorShares Investments LLC lifted its stake in shares of Miller Industries by 43.9% in the 1st quarter. AdvisorShares Investments LLC now owns 70,715 shares of the auto parts company’s stock valued at $2,500,000 after purchasing an additional 21,557 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Miller Industries in the 1st quarter valued at $246,000. Finally, UBS Group AG lifted its stake in shares of Miller Industries by 63.1% in the 3rd quarter. UBS Group AG now owns 2,076 shares of the auto parts company’s stock valued at $44,000 after purchasing an additional 803 shares during the period. 77.11% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Monday.
Miller Industries Price Performance
Shares of NYSE MLR opened at $36.20 on Friday. The stock has a market capitalization of $414.49 million, a price-to-earnings ratio of 10.74 and a beta of 1.01. The business has a 50-day moving average of $38.72 and a 200-day moving average of $36.81. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 1.34. Miller Industries, Inc. has a fifty-two week low of $25.25 and a fifty-two week high of $41.50.
Miller Industries (NYSE:MLR – Get Free Report) last issued its earnings results on Wednesday, August 9th. The auto parts company reported $1.29 earnings per share (EPS) for the quarter. The business had revenue of $300.26 million during the quarter. Miller Industries had a net margin of 3.81% and a return on equity of 12.89%.
Miller Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, September 1st were given a $0.18 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.99%. Miller Industries’s payout ratio is 21.37%.
Miller Industries Profile
Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flatbed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.
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