Miller Industries, Inc. (NYSE:MLR) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of Miller Industries, Inc. (NYSE:MLR) by 39.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,400 shares of the auto parts company’s stock after selling 27,271 shares during the quarter. Renaissance Technologies LLC owned about 0.36% of Miller Industries worth $2,278,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MLR. Narwhal Capital Management purchased a new stake in shares of Miller Industries during the 1st quarter worth about $3,670,000. Hillsdale Investment Management Inc. grew its stake in Miller Industries by 1,404.6% during the first quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock worth $2,864,000 after buying an additional 53,373 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Miller Industries by 19.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 152,762 shares of the auto parts company’s stock worth $7,653,000 after acquiring an additional 24,993 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Miller Industries in the 1st quarter valued at $688,000. Finally, AdvisorShares Investments LLC raised its stake in shares of Miller Industries by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock valued at $7,426,000 after acquiring an additional 9,384 shares during the period. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Stock Performance

Shares of NYSE:MLR opened at $59.92 on Wednesday. The business’s 50-day simple moving average is $60.78 and its 200 day simple moving average is $56.88. The company has a market cap of $687.28 million, a P/E ratio of 10.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. Miller Industries, Inc. has a one year low of $34.96 and a one year high of $69.75.

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

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, September 9th. Miller Industries’s dividend payout ratio is currently 13.26%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Miller Industries from a “strong-buy” rating to a “buy” rating in a 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.