Nuveen LLC Purchases Shares of 34,681 Miller Industries, Inc. $MLR

Nuveen LLC purchased a new stake in Miller Industries, Inc. (NYSE:MLR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 34,681 shares of the auto parts company’s stock, valued at approximately $1,469,000. Nuveen LLC owned 0.30% of Miller Industries as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Miller Industries by 587.3% during the first quarter. Victory Capital Management Inc. now owns 32,187 shares of the auto parts company’s stock worth $1,364,000 after purchasing an additional 27,504 shares during the period. Isthmus Partners LLC increased its holdings in shares of Miller Industries by 93.2% during the first quarter. Isthmus Partners LLC now owns 42,861 shares of the auto parts company’s stock worth $1,816,000 after purchasing an additional 20,677 shares during the period. Narwhal Capital Management increased its holdings in shares of Miller Industries by 20.0% during the first quarter. Narwhal Capital Management now owns 121,499 shares of the auto parts company’s stock worth $5,148,000 after purchasing an additional 20,273 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Miller Industries by 21.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 113,733 shares of the auto parts company’s stock worth $4,819,000 after purchasing an additional 20,191 shares during the period. Finally, Sovereign s Capital Management LLC bought a new position in shares of Miller Industries during the fourth quarter worth approximately $1,132,000. 79.24% of the stock is owned by institutional investors.

Miller Industries Stock Performance

Shares of Miller Industries stock opened at $42.06 on Monday. The company’s 50 day moving average price is $43.37 and its two-hundred day moving average price is $45.03. The firm has a market capitalization of $482.01 million, a P/E ratio of 11.49 and a beta of 1.24. Miller Industries, Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $78.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.19.

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

Miller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Miller Industries’s dividend payout ratio (DPR) is 21.86%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Zacks Research raised shares of Miller Industries to a “strong sell” rating in a report on Monday, August 11th. 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 research note on Thursday, June 26th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.00.

Miller Industries Company Profile

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.