GHP Investment Advisors Inc. Reduces Holdings in Miller Industries, Inc. (NYSE:MLR)

GHP Investment Advisors Inc. lessened its position in shares of Miller Industries, Inc. (NYSE:MLR) by 9.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 46,768 shares of the auto parts company’s stock after selling 5,079 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Miller Industries were worth $3,057,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in Miller Industries during the second quarter worth $407,000. Millennium Management LLC increased its position in shares of Miller Industries by 94.1% during the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock worth $3,486,000 after purchasing an additional 30,714 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Miller Industries by 215.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,942 shares of the auto parts company’s stock valued at $712,000 after buying an additional 8,840 shares during the period. Cubist Systematic Strategies LLC lifted its position in Miller Industries by 2.5% in the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock valued at $452,000 after buying an additional 201 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Miller Industries by 84.8% in the third quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock valued at $314,000 after buying an additional 2,364 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Miller Industries Stock Performance

Shares of Miller Industries stock opened at $65.52 on Friday. The stock has a market capitalization of $749.49 million, a price-to-earnings ratio of 10.86 and a beta of 0.98. 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 business has a 50-day moving average of $68.33 and a 200 day moving average of $65.27. Miller Industries, Inc. has a 12 month low of $40.63 and a 12 month high of $78.25.

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

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, December 2nd. Miller Industries’s payout ratio is currently 12.60%.

Analysts Set New Price Targets

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

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.