Victory Capital Management Inc. Has $1.36 Million Stock Position in Miller Industries, Inc. (NYSE:MLR)

Victory Capital Management Inc. increased its position in shares of Miller Industries, Inc. (NYSE:MLR) by 587.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,187 shares of the auto parts company’s stock after purchasing an additional 27,504 shares during the quarter. Victory Capital Management Inc. owned approximately 0.28% of Miller Industries worth $1,364,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MLR. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Miller Industries during the 4th quarter worth about $85,000. CX Institutional acquired a new stake in shares of Miller Industries during the 1st quarter worth about $120,000. GAMMA Investing LLC grew its holdings in Miller Industries by 1,894.1% during the 1st quarter. GAMMA Investing LLC now owns 3,051 shares of the auto parts company’s stock worth $129,000 after acquiring an additional 2,898 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Miller Industries during the 4th quarter worth about $137,000. Finally, LSV Asset Management bought a new stake in Miller Industries during the 4th quarter worth about $176,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Stock Down 0.7%

Shares of NYSE:MLR opened at $41.50 on Thursday. Miller Industries, Inc. has a 12 month low of $37.40 and a 12 month high of $78.25. The company’s 50-day moving average price is $44.51 and its two-hundred day moving average price is $48.98. The company has a quick ratio of 2.16, a current ratio of 3.23 and a debt-to-equity ratio of 0.18. The firm has a market cap of $475.56 million, a P/E ratio of 8.81 and a beta of 1.22.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.09. Miller Industries had a net margin of 4.81% and a return on equity of 13.78%. The firm had revenue of $225.65 million for the quarter, compared to analyst estimates of $224.35 million. As a group, research analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.93%. Miller Industries’s payout ratio is presently 16.99%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their price objective on shares of Miller Industries from $66.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, June 26th.

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.