Miller Industries, Inc. (NYSE:MLR) Short Interest Down 21.0% in July

Miller Industries, Inc. (NYSE:MLR) saw a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 78,400 shares, a decline of 21.0% from the June 30th total of 99,300 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 81,600 shares, the short-interest ratio is presently 1.0 days.

Miller Industries Trading Up 1.0 %

NYSE MLR traded up $0.67 on Friday, reaching $66.19. 108,284 shares of the company were exchanged, compared to its average volume of 103,672. The business’s fifty day moving average price is $58.44 and its 200 day moving average price is $51.21. The stock has a market capitalization of $759.20 million, a P/E ratio of 11.55 and a beta of 0.97. The company has a current ratio of 2.03, a quick ratio of 1.36 and a debt-to-equity ratio of 0.15. Miller Industries has a fifty-two week low of $34.96 and a fifty-two week high of $66.98.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Wednesday, May 8th. The auto parts company reported $1.47 earnings per share for the quarter. The company had revenue of $349.87 million for the quarter. Miller Industries had a return on equity of 19.46% and a net margin of 5.41%.

Miller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a $0.19 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 1.15%. Miller Industries’s dividend payout ratio is currently 13.26%.

Institutional Investors Weigh In On Miller Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AJOVista LLC purchased a new stake in Miller Industries in the fourth quarter valued at $69,000. EntryPoint Capital LLC raised its position in Miller Industries by 101.3% in the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after purchasing an additional 913 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Miller Industries by 52.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,868 shares of the auto parts company’s stock valued at $79,000 after buying an additional 639 shares during the period. Blue Trust Inc. purchased a new stake in shares of Miller Industries in the 4th quarter valued at $86,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Miller Industries in the 4th quarter valued at $107,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Miller Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 12th.

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.