Miller Industries, Inc. (NYSE:MLR) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in Miller Industries, Inc. (NYSE:MLR) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,468 shares of the auto parts company’s stock after selling 17,427 shares during the quarter. Mutual of America Capital Management LLC owned 1.03% of Miller Industries worth $7,166,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. AdvisorShares Investments LLC lifted its holdings in Miller Industries by 7.4% in the second quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock valued at $7,426,000 after acquiring an additional 9,384 shares during the period. Narwhal Capital Management increased its holdings in shares of Miller Industries by 31.2% during the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after purchasing an additional 26,983 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Miller Industries in the 2nd quarter valued at $468,000. Summit Global Investments purchased a new stake in Miller Industries during the third quarter worth $611,000. Finally, Cubist Systematic Strategies LLC grew its position in Miller Industries by 2.5% during the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock valued at $452,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Up 1.6 %

Shares of NYSE MLR opened at $67.25 on Tuesday. Miller Industries, Inc. has a 52-week low of $38.33 and a 52-week high of $78.25. The company has a quick ratio of 1.44, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $63.98 and its 200-day simple moving average is $60.78. The firm has a market cap of $769.34 million, a price-to-earnings ratio of 10.97 and a beta of 0.94.

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

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, December 2nd. Miller Industries’s dividend payout ratio is currently 12.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. DA Davidson reaffirmed a “buy” rating and issued a $82.00 price target on shares of Miller Industries in a report on Friday. StockNews.com lowered Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

About Miller Industries

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.