Miller Industries, Inc. (NYSE:MLR) Sees Significant Growth in Short Interest

Miller Industries, Inc. (NYSE:MLR) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 199,100 shares, a growth of 133.4% from the August 15th total of 85,300 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily trading volume, of 97,000 shares, the days-to-cover ratio is currently 2.1 days.

Miller Industries Stock Up 0.4 %

Shares of NYSE MLR traded up $0.24 during trading hours on Friday, hitting $58.05. The company had a trading volume of 43,669 shares, compared to its average volume of 73,091. Miller Industries has a 1-year low of $34.96 and a 1-year high of $69.75. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $60.48 and its 200-day moving average is $55.59. The stock has a market capitalization of $664.67 million, a P/E ratio of 10.09 and a beta of 0.96.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. The firm had revenue of $371.45 million during the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%.

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, September 9th. Miller Industries’s dividend payout ratio (DPR) is presently 13.26%.

Institutional Trading of Miller Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of Miller Industries during the 2nd quarter worth approximately $39,000. Point72 DIFC Ltd boosted its position in Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 595 shares during the period. EntryPoint Capital LLC boosted its position in Miller Industries by 101.3% during the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock worth $91,000 after purchasing an additional 913 shares during the period. Voisard Asset Management Group Inc. bought a new position in shares of Miller Industries in the fourth quarter valued at about $107,000. Finally, Hillsdale Investment Management Inc. raised its position in shares of Miller Industries by 11.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,800 shares of the auto parts company’s stock valued at $161,000 after purchasing an additional 400 shares during the period. Institutional investors own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.