Narwhal Capital Management Sells 12,342 Shares of Miller Industries, Inc. (NYSE:MLR)

Narwhal Capital Management trimmed its position in shares of Miller Industries, Inc. (NYSE:MLR) by 10.9% during the 4th quarter, Holdings Channel reports. The firm owned 101,226 shares of the auto parts company’s stock after selling 12,342 shares during the period. Narwhal Capital Management’s holdings in Miller Industries were worth $6,616,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC increased its stake in Miller Industries by 10.2% in the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after buying an additional 71,231 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Miller Industries by 193.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company’s stock worth $5,670,000 after purchasing an additional 61,247 shares in the last quarter. Royce & Associates LP raised its stake in Miller Industries by 12.9% during the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock valued at $30,288,000 after purchasing an additional 56,578 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Miller Industries by 11.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company’s stock worth $22,435,000 after purchasing an additional 37,480 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Miller Industries by 94.1% in 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 period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Trading Down 3.5 %

Shares of MLR opened at $66.75 on Monday. The stock has a market capitalization of $763.63 million, a PE ratio of 11.07 and a beta of 0.98. The company’s fifty day moving average is $68.96 and its 200 day moving average is $64.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. Miller Industries, Inc. has a fifty-two week low of $39.92 and a fifty-two week high of $78.25.

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

Miller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, December 2nd. Miller Industries’s dividend payout ratio is 12.60%.

Analysts Set New Price Targets

MLR has been the topic of several recent analyst reports. StockNews.com cut shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. DA Davidson reiterated a “buy” rating and issued a $82.00 price target on shares of Miller Industries in a research note on Friday, November 15th.

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.