Miller Industries, Inc. (NYSE:MLR) Holdings Boosted by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC increased its stake in shares of Miller Industries, Inc. (NYSE:MLR) by 11.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 367,793 shares of the auto parts company’s stock after purchasing an additional 37,480 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 3.21% of Miller Industries worth $22,435,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. AdvisorShares Investments LLC grew its holdings in Miller Industries by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock valued at $7,426,000 after buying an additional 9,384 shares during the last quarter. Narwhal Capital Management grew its holdings 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 worth $6,928,000 after purchasing an additional 26,983 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Miller Industries during the third quarter worth approximately $496,000. XTX Topco Ltd bought a new stake in shares of Miller Industries during the second quarter worth $468,000. Finally, Summit Global Investments bought a new stake in shares of Miller Industries during the third quarter valued at approximately $611,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Stock Performance

NYSE:MLR opened at $74.05 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $67.02 and a 200 day simple moving average of $62.04. Miller Industries, Inc. has a 1-year low of $38.33 and a 1-year high of $78.25. The stock has a market cap of $847.13 million, a P/E ratio of 12.28 and a beta of 0.96.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, meeting 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 quarter in the previous year, the business posted $1.52 earnings per share. Research analysts anticipate that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. Miller Industries’s dividend payout ratio is currently 12.60%.

Analyst Upgrades and Downgrades

Several analysts have commented on MLR shares. StockNews.com cut shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. DA Davidson restated a “buy” rating and issued a $82.00 price target on shares of Miller Industries in a report on Friday, November 15th.

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.