Miller Industries, Inc. (NYSE:MLR) Shares Acquired by Narwhal Capital Management

Narwhal Capital Management boosted its stake in Miller Industries, Inc. (NYSE:MLR) by 31.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 113,568 shares of the auto parts company’s stock after acquiring an additional 26,983 shares during the quarter. Narwhal Capital Management’s holdings in Miller Industries were worth $6,928,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MLR. Allspring Global Investments Holdings LLC boosted its holdings in shares of Miller Industries by 19.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 152,762 shares of the auto parts company’s stock worth $7,653,000 after purchasing an additional 24,993 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Miller Industries by 62.7% during the first quarter. BNP Paribas Financial Markets now owns 11,762 shares of the auto parts company’s stock worth $589,000 after buying an additional 4,534 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Miller Industries during the first quarter worth $688,000. Susquehanna Fundamental Investments LLC purchased a new stake in Miller Industries in the 1st quarter valued at $439,000. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Miller Industries by 1,404.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock worth $2,864,000 after acquiring an additional 53,373 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Price Performance

Shares of MLR opened at $63.35 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44. The stock has a market cap of $726.62 million, a PE ratio of 11.06 and a beta of 0.96. The firm has a 50-day simple moving average of $60.61 and a two-hundred day simple moving average of $58.37. Miller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $69.75.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. The business had revenue of $371.45 million during the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. As a group, analysts forecast that Miller Industries, Inc. will post 5.6 EPS for the current year.

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, September 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. Miller Industries’s dividend payout ratio (DPR) is presently 13.26%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MLR. DA Davidson assumed coverage on shares of Miller Industries in a research report on Wednesday, October 2nd. They set a “buy” rating and a $82.00 price objective for the company. StockNews.com cut shares of Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th.

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.