Systematic Financial Management LP Sells 12,521 Shares of Miller Industries, Inc. (NYSE:MLR)

Systematic Financial Management LP lowered its position in shares of Miller Industries, Inc. (NYSE:MLR) by 3.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 387,573 shares of the auto parts company’s stock after selling 12,521 shares during the period. Systematic Financial Management LP owned about 3.38% of Miller Industries worth $21,324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Miller Industries by 1.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company’s stock worth $8,500,000 after purchasing an additional 1,722 shares during the last quarter. AdvisorShares Investments LLC raised its holdings in Miller Industries by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock worth $7,426,000 after purchasing an additional 9,384 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Miller Industries by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 100,538 shares of the auto parts company’s stock worth $5,532,000 after acquiring an additional 1,253 shares during the period. Narwhal Capital Management lifted its stake in shares of Miller Industries by 18.2% in the 2nd quarter. Narwhal Capital Management now owns 86,585 shares of the auto parts company’s stock valued at $4,764,000 after purchasing an additional 13,323 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Miller Industries by 94.1% during the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock valued at $3,486,000 after purchasing an additional 30,714 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Price Performance

Shares of MLR opened at $60.20 on Friday. The stock has a market cap of $690.49 million, a P/E ratio of 10.51 and a beta of 0.96. The business’s fifty day moving average is $60.86 and its 200 day moving average is $56.67. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. Miller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $69.75.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. The business had revenue of $371.45 million for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%.

Miller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.19 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.26%. Miller Industries’s dividend payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th.

About Miller Industries

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 flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.