CX Institutional Takes $120,000 Position in Miller Industries, Inc. (NYSE:MLR)

CX Institutional purchased a new stake in Miller Industries, Inc. (NYSE:MLR) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 2,840 shares of the auto parts company’s stock, valued at approximately $120,000.

Other institutional investors have also recently made changes to their positions in the company. Royce & Associates LP increased its stake in Miller Industries by 29.8% in the fourth quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company’s stock valued at $42,132,000 after purchasing an additional 148,079 shares during the last quarter. Systematic Financial Management LP boosted its holdings in shares of Miller Industries by 2.0% in the fourth quarter. Systematic Financial Management LP now owns 403,191 shares of the auto parts company’s stock valued at $26,353,000 after acquiring an additional 8,032 shares in the last quarter. Franklin Resources Inc. lifted its position in Miller Industries by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 248,555 shares of the auto parts company’s stock valued at $16,246,000 after purchasing an additional 1,511 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Miller Industries by 15.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company’s stock valued at $11,652,000 after buying an additional 24,427 shares in the last quarter. Finally, Portolan Capital Management LLC purchased a new position in Miller Industries in the fourth quarter worth $9,366,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Stock Performance

NYSE:MLR opened at $44.13 on Tuesday. The firm has a 50-day moving average price of $43.58 and a two-hundred day moving average price of $54.21. The company has a market capitalization of $505.73 million, a P/E ratio of 7.32 and a beta of 1.24. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a twelve month low of $37.40 and a twelve month high of $78.25.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. The business had revenue of $225.65 million for the quarter, compared to the consensus estimate of $224.35 million. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. As a group, research analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. Miller Industries’s dividend payout ratio is currently 16.99%.

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.