12,901 Shares of Miller Industries, Inc. $MLR Acquired by Wavvest Wealth LLC

Wavvest Wealth LLC acquired a new position in Miller Industries, Inc. (NYSE:MLR) during the 3rd quarter, Holdings Channel reports. The fund acquired 12,901 shares of the auto parts company’s stock, valued at approximately $679,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Uncommon Cents Investing Inc increased its holdings in Miller Industries by 0.5% during the 3rd quarter. Uncommon Cents Investing Inc now owns 64,463 shares of the auto parts company’s stock valued at $3,391,000 after acquiring an additional 350 shares in the last quarter. Ellsworth Advisors LLC purchased a new stake in shares of Miller Industries in the third quarter valued at about $978,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Miller Industries in the second quarter valued at about $351,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Miller Industries in the second quarter valued at about $1,187,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Miller Industries in the second quarter valued at about $5,985,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Trading Up 0.7%

Miller Industries stock opened at $52.68 on Thursday. The stock has a market cap of $598.02 million, a PE ratio of 42.48 and a beta of 1.12. The stock has a 50-day moving average price of $54.59 and a 200 day moving average price of $50.95. Miller Industries, Inc. has a 52 week low of $35.72 and a 52 week high of $59.70.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, August 5th. The auto parts company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.27. Miller Industries had a net margin of 1.86% and a return on equity of 3.41%. The firm had revenue of $239.99 million during the quarter, compared to the consensus estimate of $210.80 million. On average, equities analysts predict that Miller Industries, Inc. will post 1.95 EPS for the current year.

Miller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 8th. Miller Industries’s dividend payout ratio (DPR) is currently 67.74%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MLR. Wall Street Zen upgraded shares of Miller Industries from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a research report on Monday, September 21st. Zacks Research raised Miller Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, DA Davidson increased their target price on Miller Industries from $56.00 to $64.00 and gave the company a “buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.00.

Miller Industries Company Profile

Miller Industries, Inc designs, manufactures and sells towing and recovery equipment for commercial, municipal, transportation and emergency-service customers. Its product portfolio includes light-, medium- and heavy-duty wreckers; car carriers and transporters; rotator recovery units; and specialized equipment used to recover, move and transport disabled or damaged vehicles.

The company markets products under several established brands, including Century, Vulcan, Holmes, Challenger and Champion.