Bank of New York Mellon Corp Raises Holdings in Miller Industries, Inc. (MLR)

Bank of New York Mellon Corp raised its position in Miller Industries, Inc. (NYSE:MLR) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,037 shares of the auto parts company’s stock after buying an additional 1,073 shares during the quarter. Bank of New York Mellon Corp owned about 1.27% of Miller Industries worth $3,579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Strs Ohio purchased a new position in shares of Miller Industries in the second quarter valued at $171,000. Bessemer Group Inc. grew its position in shares of Miller Industries by 8,139.4% in the second quarter. Bessemer Group Inc. now owns 11,700 shares of the auto parts company’s stock valued at $291,000 after purchasing an additional 11,558 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of Miller Industries in the second quarter valued at $291,000. Hedge funds and other institutional investors own 84.23% of the company’s stock.

Separately, BidaskClub upgraded Miller Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd.

Miller Industries, Inc. (NYSE MLR) opened at 28.10 on Monday. The stock has a 50 day moving average price of $25.86 and a 200 day moving average price of $25.40. The stock has a market capitalization of $319.69 million, a PE ratio of 16.73 and a beta of 0.61. Miller Industries, Inc. has a 12 month low of $21.55 and a 12 month high of $29.00.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, August 9th. The auto parts company reported $0.48 EPS for the quarter. Miller Industries had a return on equity of 10.31% and a net margin of 3.22%. The company had revenue of $153.09 million for the quarter.

The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Monday, September 11th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.72 dividend on an annualized basis and a yield of 2.56%. Miller Industries’s dividend payout ratio is currently 42.60%.

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Miller Industries Profile

Miller Industries, Inc is a manufacturer of towing and recovery equipment. The Company manufactures the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. It has domestic manufacturing operations in Tennessee and Pennsylvania, and foreign manufacturing operations in France and the United Kingdom.

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Institutional Ownership by Quarter for Miller Industries (NYSE:MLR)

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