US Bancorp DE Purchases 2,217 Shares of Miller Industries, Inc. (NYSE:MLR)

US Bancorp DE boosted its position in Miller Industries, Inc. (NYSE:MLR) by 21.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,468 shares of the auto parts company’s stock after acquiring an additional 2,217 shares during the period. US Bancorp DE owned 0.11% of Miller Industries worth $528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Systematic Financial Management LP raised its stake in Miller Industries by 2.0% in the 4th 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 during the period. Portolan Capital Management LLC bought a new stake in Miller Industries in the 4th quarter valued at about $9,366,000. Narwhal Capital Management raised its stake in Miller Industries by 20.0% in the 1st quarter. Narwhal Capital Management now owns 121,499 shares of the auto parts company’s stock valued at $5,148,000 after acquiring an additional 20,273 shares during the period. Northern Trust Corp raised its stake in Miller Industries by 5.6% in the 4th quarter. Northern Trust Corp now owns 111,202 shares of the auto parts company’s stock valued at $7,268,000 after acquiring an additional 5,921 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Miller Industries by 58.6% in the 4th quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company’s stock valued at $3,830,000 after acquiring an additional 21,643 shares during the period. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Trading Up 3.0%

Shares of MLR opened at $40.93 on Tuesday. The business’s 50-day moving average price is $43.80 and its 200-day moving average price is $47.23. Miller Industries, Inc. has a twelve month low of $33.81 and a twelve month high of $78.25. The stock has a market cap of $469.05 million, a PE ratio of 11.18 and a beta of 1.25. The company has a quick ratio of 2.19, a current ratio of 3.32 and a debt-to-equity ratio of 0.13.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.18. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. The firm had revenue of $214.03 million for the quarter, compared to analysts’ expectations of $234.95 million. On average, equities analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, September 8th. Miller Industries’s dividend payout ratio is 21.86%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their price target on Miller Industries from $66.00 to $64.00 and set a “buy” rating on the stock in a research 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.