Huber Capital Management LLC Sells 52,838 Shares of Miller Industries, Inc. $MLR

Huber Capital Management LLC lessened its stake in Miller Industries, Inc. (NYSE:MLR) by 66.4% in the third quarter, HoldingsChannel reports. The firm owned 26,791 shares of the auto parts company’s stock after selling 52,838 shares during the period. Huber Capital Management LLC’s holdings in Miller Industries were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MLR. State of Alaska Department of Revenue bought a new position in shares of Miller Industries during the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 329 shares during the last quarter. CWM LLC grew its holdings in shares of Miller Industries by 121.7% in the third quarter. CWM LLC now owns 849 shares of the auto parts company’s stock worth $34,000 after acquiring an additional 466 shares during the period. Russell Investments Group Ltd. increased its position in Miller Industries by 736.0% during the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock valued at $46,000 after acquiring an additional 1,001 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Miller Industries during the third quarter valued at $113,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Stock Performance

NYSE:MLR traded down $0.76 during mid-day trading on Friday, hitting $43.80. 5,460 shares of the company traded hands, compared to its average volume of 54,409. The company has a quick ratio of 1.87, a current ratio of 3.22 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $42.25 and its 200-day moving average price is $40.40. The firm has a market cap of $498.01 million, a price-to-earnings ratio of 22.81 and a beta of 1.25. Miller Industries, Inc. has a one year low of $33.81 and a one year high of $48.94.

Miller Industries (NYSE:MLR) last posted its quarterly earnings data on Wednesday, March 4th. The auto parts company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.03 by $0.26. Miller Industries had a return on equity of 5.52% and a net margin of 2.92%.The firm had revenue of $171.92 million for the quarter, compared to the consensus estimate of $164.20 million. Research analysts anticipate that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 16th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, March 16th. This is a positive change from Miller Industries’s previous quarterly dividend of $0.20. Miller Industries’s dividend payout ratio (DPR) is 40.40%.

Analyst Ratings Changes

Several brokerages have issued reports on MLR. Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research report on Monday, December 29th. DA Davidson upped their price target on shares of Miller Industries from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Monday. Loop Capital set a $44.00 price objective on shares of Miller Industries in a research note on Monday. Finally, Zacks Research downgraded shares of Miller Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.50.

About Miller Industries

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.