Systematic Financial Management LP Acquires 7,586 Shares of Miller Industries, Inc. (NYSE:MLR)

Systematic Financial Management LP increased its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 2.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 395,159 shares of the auto parts company’s stock after purchasing an additional 7,586 shares during the quarter. Systematic Financial Management LP’s holdings in Miller Industries were worth $24,105,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Miller Industries in the 2nd quarter valued at approximately $39,000. Point72 DIFC Ltd increased its position in Miller Industries by 146.9% during the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after buying an additional 595 shares during the period. Quest Partners LLC bought a new position in Miller Industries during the 2nd quarter worth $200,000. Lakewood Asset Management LLC bought a new position in Miller Industries during the 3rd quarter worth $250,000. Finally, SG Americas Securities LLC increased its position in Miller Industries by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock worth $314,000 after buying an additional 2,364 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Miller Industries Price Performance

Miller Industries stock opened at $74.18 on Thursday. The stock’s 50 day moving average is $67.30 and its 200 day moving average is $62.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. The firm has a market cap of $848.62 million, a P/E ratio of 12.30 and a beta of 0.96. Miller Industries, Inc. has a one year low of $38.33 and a one year high of $78.25.

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

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued 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 1.02%. Miller Industries’s dividend payout ratio is 12.60%.

Miller Industries 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.