Harbor Capital Advisors Inc. Has $532,000 Position in Miller Industries, Inc. $MLR

Harbor Capital Advisors Inc. cut its holdings in Miller Industries, Inc. (NYSE:MLR) by 62.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,171 shares of the auto parts company’s stock after selling 22,146 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.11% of Miller Industries worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLR. EverSource Wealth Advisors LLC grew its stake in Miller Industries by 66.5% during the second quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock worth $37,000 after purchasing an additional 329 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Miller Industries by 1,842.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,709 shares of the auto parts company’s stock worth $76,000 after buying an additional 1,621 shares in the last quarter. AlphaQuest LLC grew its position in shares of Miller Industries by 230.3% during the 1st quarter. AlphaQuest LLC now owns 1,985 shares of the auto parts company’s stock worth $84,000 after buying an additional 1,384 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Miller Industries during the 2nd quarter worth approximately $125,000. Finally, Strs Ohio bought a new stake in shares of Miller Industries in the 1st quarter valued at $182,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MLR shares. Zacks Research raised shares of Miller Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Loop Capital set a $46.00 price objective on shares of Miller Industries in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.00.

Miller Industries Stock Performance

Shares of MLR stock opened at $38.22 on Monday. The firm has a market capitalization of $436.89 million, a PE ratio of 14.70 and a beta of 1.26. The firm has a fifty day simple moving average of $38.61 and a two-hundred day simple moving average of $40.94. The company has a current ratio of 3.46, a quick ratio of 2.13 and a debt-to-equity ratio of 0.11. Miller Industries, Inc. has a 12 month low of $33.81 and a 12 month high of $70.06.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Wednesday, November 5th. The auto parts company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.25. The firm had revenue of $178.67 million for the quarter, compared to analyst estimates of $177.55 million. Miller Industries had a net margin of 3.59% and a return on equity of 7.32%. Analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Tuesday, December 2nd were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. Miller Industries’s payout ratio is 30.77%.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.