Miller Industries, Inc. (NYSE:MLR) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. lowered its position in Miller Industries, Inc. (NYSE:MLR) by 12.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 29,000 shares of the auto parts company’s stock after selling 4,000 shares during the period. Olstein Capital Management L.P. owned 0.25% of Miller Industries worth $1,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Miller Industries during the 1st quarter worth $688,000. Susquehanna Fundamental Investments LLC purchased a new position in Miller Industries in the first quarter worth approximately $439,000. Hillsdale Investment Management Inc. increased its stake in Miller Industries by 1,404.6% during the first quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock worth $2,864,000 after acquiring an additional 53,373 shares during the last quarter. AdvisorShares Investments LLC raised its position in Miller Industries by 7.4% in 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 during the period. Finally, Narwhal Capital Management lifted its stake in shares of Miller Industries by 31.2% in the 3rd 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 last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Miller Industries Stock Down 0.5 %

Shares of NYSE MLR traded down $0.39 during midday trading on Thursday, hitting $74.82. The company’s stock had a trading volume of 1,833 shares, compared to its average volume of 74,068. Miller Industries, Inc. has a 1 year low of $37.02 and a 1 year high of $76.26. The business’s fifty day simple moving average is $62.18 and its two-hundred day simple moving average is $59.58. The firm has a market capitalization of $856.69 million, a price-to-earnings ratio of 12.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44.

Miller Industries (NYSE:MLR) last issued its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share (EPS) for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. The company had revenue of $371.45 million during the quarter. On average, equities analysts predict that Miller Industries, Inc. will post 5.6 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com cut shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson assumed coverage on Miller Industries in a research note on Wednesday, October 2nd. They set a “buy” rating and a $82.00 price target on the stock.

About Miller Industries

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.