Redmont Wealth Advisors LLC Makes New $475,000 Investment in Miller Industries, Inc. $MLR

Redmont Wealth Advisors LLC bought a new stake in shares of Miller Industries, Inc. (NYSE:MLR) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,747 shares of the auto parts company’s stock, valued at approximately $475,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Miller Industries by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock worth $281,000 after buying an additional 312 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Miller Industries by 66.5% in the 2nd 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. CWM LLC lifted its stake in Miller Industries by 121.7% in the third quarter. CWM LLC now owns 849 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 466 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Miller Industries in the third quarter worth $25,000. Finally, American Century Companies Inc. lifted its position in shares of Miller Industries by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 28,020 shares of the auto parts company’s stock valued at $1,246,000 after buying an additional 1,141 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Trading Down 0.8%

Shares of Miller Industries stock opened at $43.31 on Thursday. The company’s 50-day moving average price is $40.43 and its 200-day moving average price is $40.20. 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 $62.74. The company has a market cap of $494.98 million, a price-to-earnings ratio of 16.66 and a beta of 1.25.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miller Industries in a report on Monday, December 29th. Loop Capital set a $46.00 price target on shares of Miller Industries in a research note on Monday, November 10th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.00.

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.