Miller Industries, Inc. (NYSE:MLR) Shares Acquired by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC grew its stake in Miller Industries, Inc. (NYSE:MLR) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,392 shares of the auto parts company’s stock after buying an additional 282 shares during the quarter. Miller Industries accounts for approximately 1.4% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 19th biggest position. Redmont Wealth Advisors LLC’s holdings in Miller Industries were worth $810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLR. Barclays PLC increased its stake in Miller Industries by 115.6% in the third quarter. Barclays PLC now owns 28,131 shares of the auto parts company’s stock valued at $1,717,000 after purchasing an additional 15,082 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Miller Industries during the third quarter worth about $496,000. Sanctuary Advisors LLC purchased a new position in shares of Miller Industries in the 3rd quarter worth about $195,000. Systematic Financial Management LP increased its position in Miller Industries by 2.0% during the 3rd quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock worth $24,105,000 after purchasing an additional 7,586 shares in the last quarter. Finally, State Street Corp raised its holdings in Miller Industries by 4.3% in the third quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock valued at $14,081,000 after buying an additional 9,482 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analysts Set New Price Targets

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

Miller Industries Stock Up 0.8 %

Shares of NYSE:MLR opened at $68.58 on Thursday. The company has a market cap of $784.57 million, a PE ratio of 11.37 and a beta of 0.98. Miller Industries, Inc. has a 52 week low of $39.92 and a 52 week high of $78.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The firm has a 50 day simple moving average of $68.91 and a 200 day simple moving average of $64.67.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data 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 business had revenue of $314.27 million for the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same period in the previous year, the business posted $1.52 earnings per share. As a group, research analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, December 2nd. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

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.