Sierra Summit Advisors LLC Decreases Holdings in Miller Industries, Inc. (NYSE:MLR)

Sierra Summit Advisors LLC decreased its holdings in Miller Industries, Inc. (NYSE:MLR) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,617 shares of the auto parts company’s stock after selling 632 shares during the period. Sierra Summit Advisors LLC owned 0.10% of Miller Industries worth $639,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLR. Hillsdale Investment Management Inc. boosted its stake in shares of Miller Industries by 11.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,800 shares of the auto parts company’s stock worth $161,000 after purchasing an additional 400 shares during the period. Ellsworth Advisors LLC boosted its position in shares of Miller Industries by 4.9% during the second quarter. Ellsworth Advisors LLC now owns 11,431 shares of the auto parts company’s stock valued at $629,000 after buying an additional 531 shares during the period. Innealta Capital LLC bought a new position in Miller Industries in the 2nd quarter valued at $39,000. Kennedy Capital Management LLC grew its position in Miller Industries by 2.4% in the 1st quarter. Kennedy Capital Management LLC now owns 36,707 shares of the auto parts company’s stock valued at $1,839,000 after acquiring an additional 853 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in Miller Industries by 9.6% in the second quarter. HHM Wealth Advisors LLC now owns 9,998 shares of the auto parts company’s stock worth $550,000 after purchasing an additional 878 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Wall Street Analyst Weigh In

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

Miller Industries Price Performance

Shares of MLR stock opened at $58.05 on Monday. The stock has a market capitalization of $665.83 million, a price-to-earnings ratio of 10.13 and a beta of 0.96. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18. Miller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $69.75. The stock has a fifty day simple moving average of $60.58 and a two-hundred day simple moving average of $55.85.

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

Miller Industries Dividend Announcement

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

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.