Narwhal Capital Management Raises Stock Position in Miller Industries, Inc. (NYSE:MLR)

Narwhal Capital Management boosted its position in shares of Miller Industries, Inc. (NYSE:MLR) by 31.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,568 shares of the auto parts company’s stock after acquiring an additional 26,983 shares during the period. Narwhal Capital Management owned 0.99% of Miller Industries worth $6,928,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted 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 valued at $7,653,000 after purchasing an additional 24,993 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Miller Industries by 62.7% in the first quarter. BNP Paribas Financial Markets now owns 11,762 shares of the auto parts company’s stock worth $589,000 after acquiring an additional 4,534 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Miller Industries during the first quarter worth about $688,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Miller Industries during the first quarter valued at about $439,000. Finally, Hillsdale Investment Management Inc. raised its position 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 valued at $2,864,000 after purchasing an additional 53,373 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MLR. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. DA Davidson initiated coverage on shares of Miller Industries in a report on Wednesday, October 2nd. They set a “buy” rating and a $82.00 price objective on the stock.

Miller Industries Trading Down 0.0 %

Shares of NYSE:MLR opened at $63.35 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. Miller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $69.75. The stock has a market cap of $726.62 million, a price-to-earnings ratio of 11.06 and a beta of 0.96. The business has a 50-day moving average price of $60.61 and a 200-day moving average price of $58.37.

Miller Industries (NYSE:MLR) last issued its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share 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. Equities analysts predict that Miller Industries, Inc. will post 5.6 EPS for the current year.

Miller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.19 per share. The ex-dividend date of this dividend 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 is presently 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.