Huber Capital Management LLC Decreases Holdings in Miller Industries, Inc. $MLR

Huber Capital Management LLC cut its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 45.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,703 shares of the auto parts company’s stock after selling 12,088 shares during the quarter. Huber Capital Management LLC owned approximately 0.13% of Miller Industries worth $549,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. First Wilshire Securities Management Inc. grew its stake in shares of Miller Industries by 980.1% during the 4th quarter. First Wilshire Securities Management Inc. now owns 298,801 shares of the auto parts company’s stock worth $11,166,000 after acquiring an additional 271,136 shares during the period. Millennium Management LLC grew its stake in shares of Miller Industries by 855.1% during the 1st quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company’s stock worth $6,649,000 after acquiring an additional 140,500 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Miller Industries by 64.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company’s stock worth $12,160,000 after acquiring an additional 112,925 shares during the period. Invenomic Capital Management LP bought a new position in shares of Miller Industries during the 3rd quarter worth $4,442,000. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Miller Industries by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 566,171 shares of the auto parts company’s stock worth $22,885,000 after acquiring an additional 101,973 shares during the period. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Stock Down 0.1%

Shares of NYSE MLR opened at $48.73 on Friday. Miller Industries, Inc. has a 52 week low of $33.81 and a 52 week high of $49.89. The business has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $43.48. The company has a quick ratio of 1.78, a current ratio of 2.98 and a debt-to-equity ratio of 0.05. The company has a market cap of $555.50 million, a P/E ratio of 36.36 and a beta of 1.11.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, May 6th. The auto parts company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). Miller Industries had a return on equity of 3.70% and a net margin of 2.08%.The company had revenue of $180.86 million during the quarter, compared to the consensus estimate of $181.10 million. Research analysts anticipate that Miller Industries, Inc. will post 1.9 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were paid a $0.21 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.84 annualized dividend and a yield of 1.7%. Miller Industries’s dividend payout ratio (DPR) is currently 62.69%.

Analyst Ratings Changes

Several research firms have recently weighed in on MLR. Zacks Research downgraded Miller Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. DA Davidson increased their price target on Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a research note on Friday, March 27th. Finally, Loop Capital set a $44.00 price target on Miller Industries in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.00.

Miller Industries 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.