Isthmus Partners LLC Purchases New Stake in Miller Industries, Inc. (NYSE:MLR)

Isthmus Partners LLC purchased a new stake in Miller Industries, Inc. (NYSE:MLR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,198 shares of the auto parts company’s stock, valued at approximately $1,354,000. Isthmus Partners LLC owned approximately 0.19% of Miller Industries at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC raised its holdings 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 acquiring an additional 9,384 shares in the last quarter. Narwhal Capital Management raised its holdings in Miller Industries by 31.2% in the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after acquiring an additional 26,983 shares in the last quarter. XTX Topco Ltd acquired a new stake in Miller Industries in the second quarter valued at $468,000. Summit Global Investments acquired a new stake in Miller Industries in the third quarter valued at $611,000. Finally, Principal Financial Group Inc. acquired a new stake in Miller Industries in the third quarter valued at $496,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Stock Up 0.6 %

Shares of NYSE:MLR opened at $74.72 on Friday. The stock has a market capitalization of $854.80 million, a price-to-earnings ratio of 12.39 and a beta of 0.94. Miller Industries, Inc. has a 1-year low of $38.33 and a 1-year high of $78.25. The company’s fifty day moving average is $66.24 and its two-hundred day moving average is $61.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12.

Miller Industries (NYSE:MLR) last issued its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.33. The company had revenue of $314.27 million for the quarter. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. During the same period last year, the company posted $1.52 earnings per share. Equities analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com cut shares of Miller Industries from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. DA Davidson reissued a “buy” rating and set a $82.00 target price on shares of Miller Industries in a report on Friday, November 15th.

Miller Industries Company Profile

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.