Hotchkis & Wiley Capital Management LLC Purchases 37,480 Shares of Miller Industries, Inc. (NYSE:MLR)

Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Miller Industries, Inc. (NYSE:MLR) by 11.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 367,793 shares of the auto parts company’s stock after buying an additional 37,480 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Miller Industries were worth $22,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in MLR. AdvisorShares Investments LLC lifted its holdings in shares of Miller Industries by 7.4% during the second quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock valued at $7,426,000 after purchasing an additional 9,384 shares in the last quarter. Narwhal Capital Management grew its holdings in Miller Industries by 31.2% during the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after purchasing an additional 26,983 shares during the period. Principal Financial Group Inc. purchased a new stake in Miller Industries in the 3rd quarter worth approximately $496,000. XTX Topco Ltd bought a new stake in shares of Miller Industries during the 2nd quarter valued at $468,000. Finally, Summit Global Investments bought a new position in shares of Miller Industries in the third quarter worth about $611,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analysts Set New Price Targets

MLR has been the topic of a number of research analyst reports. DA Davidson reiterated a “buy” rating and issued a $82.00 target price on shares of Miller Industries in a research report on Friday, November 15th. StockNews.com cut Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Miller Industries Stock Down 0.3 %

NYSE MLR opened at $74.05 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a 52 week low of $38.33 and a 52 week high of $78.25. The firm has a market capitalization of $847.13 million, a price-to-earnings ratio of 12.28 and a beta of 0.96. The company has a fifty day moving average of $67.02 and a two-hundred day moving average of $62.04.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, hitting analysts’ consensus estimates of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The firm had revenue of $314.27 million during the quarter. During the same period in the prior year, the firm posted $1.52 earnings per share. On average, analysts predict that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Monday, December 2nd. Miller Industries’s payout ratio is presently 12.60%.

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.