Jacobs Levy Equity Management Inc. Takes $1.09 Million Position in Miller Industries, Inc. (NYSE:MLR)

Jacobs Levy Equity Management Inc. purchased a new position in Miller Industries, Inc. (NYSE:MLR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,910 shares of the auto parts company’s stock, valued at approximately $1,093,000.

A number of other hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Miller Industries in the second quarter worth about $39,000. Point72 DIFC Ltd lifted its holdings in Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after buying an additional 595 shares during the period. Quest Partners LLC bought a new stake in shares of Miller Industries in the 2nd quarter worth approximately $200,000. Lakewood Asset Management LLC purchased a new position in shares of Miller Industries during the third quarter valued at approximately $250,000. Finally, SG Americas Securities LLC lifted its stake 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 worth $314,000 after acquiring an additional 2,364 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Price Performance

Shares of MLR opened at $72.90 on Monday. 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 stock has a market cap of $833.98 million, a PE ratio of 12.09 and a beta of 0.96. The firm’s 50-day simple moving average is $67.81 and its two-hundred day simple moving average is $62.33. Miller Industries, Inc. has a fifty-two week low of $38.33 and a fifty-two week high of $78.25.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.33. The company had revenue of $314.27 million for the quarter. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. During the same quarter in the previous year, the firm earned $1.52 EPS. Analysts anticipate that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, December 2nd. Miller Industries’s payout ratio is 12.60%.

Analysts Set New Price Targets

MLR has been the topic of several research analyst reports. DA Davidson reiterated 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 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.