AJOVista LLC Acquires Shares of 1,632 Miller Industries, Inc. (NYSE:MLR)

AJOVista LLC bought a new position in shares of Miller Industries, Inc. (NYSE:MLR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,632 shares of the auto parts company’s stock, valued at approximately $69,000.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Miller Industries in the third quarter valued at about $188,000. Bank of New York Mellon Corp lifted its position in Miller Industries by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 107,293 shares of the auto parts company’s stock valued at $4,207,000 after purchasing an additional 1,470 shares during the period. Strs Ohio lifted its position in Miller Industries by 79.2% in the third quarter. Strs Ohio now owns 4,300 shares of the auto parts company’s stock valued at $168,000 after purchasing an additional 1,900 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Miller Industries by 41.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 17,215 shares of the auto parts company’s stock valued at $675,000 after purchasing an additional 5,086 shares during the period. Finally, AdvisorShares Investments LLC raised its position in Miller Industries by 6.1% in the third quarter. AdvisorShares Investments LLC now owns 99,480 shares of the auto parts company’s stock worth $3,901,000 after acquiring an additional 5,754 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th.

Miller Industries Trading Up 3.7 %

Shares of NYSE MLR traded up $1.90 during midday trading on Friday, reaching $52.97. 130,317 shares of the stock were exchanged, compared to its average volume of 49,011. The company has a market capitalization of $607.57 million, a P/E ratio of 10.45 and a beta of 1.03. Miller Industries, Inc. has a 52-week low of $32.48 and a 52-week high of $53.82. The company has a current ratio of 2.17, a quick ratio of 1.37 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $48.96 and a 200-day moving average price of $43.28.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. Miller Industries had a net margin of 5.05% and a return on equity of 17.97%. The firm had revenue of $296.25 million during the quarter.

Miller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.43%. This is an increase from Miller Industries’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, March 15th. Miller Industries’s payout ratio is presently 14.99%.

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.