Diversified Investment Strategies LLC Sells 2,540 Shares of Miller Industries, Inc. (NYSE:MLR)

Diversified Investment Strategies LLC decreased its stake in shares of Miller Industries, Inc. (NYSE:MLR) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,095 shares of the auto parts company’s stock after selling 2,540 shares during the quarter. Miller Industries comprises about 4.6% of Diversified Investment Strategies LLC’s portfolio, making the stock its 6th biggest holding. Diversified Investment Strategies LLC’s holdings in Miller Industries were worth $7,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Miller Industries during the 4th quarter worth approximately $36,000. Redmont Wealth Advisors LLC increased its holdings in shares of Miller Industries by 2.3% during the 4th quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company’s stock worth $810,000 after acquiring an additional 282 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Miller Industries by 5.2% during the 4th quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company’s stock worth $354,000 after acquiring an additional 270 shares during the last quarter. Ellsworth Advisors LLC increased its holdings in shares of Miller Industries by 4.2% during the 4th quarter. Ellsworth Advisors LLC now owns 12,334 shares of the auto parts company’s stock worth $806,000 after acquiring an additional 492 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Miller Industries by 1.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 21,775 shares of the auto parts company’s stock worth $1,423,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Price Performance

NYSE:MLR opened at $67.95 on Wednesday. Miller Industries, Inc. has a 52 week low of $39.92 and a 52 week high of $78.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The firm’s 50-day simple moving average is $68.94 and its 200 day simple moving average is $65.11. The firm has a market cap of $777.29 million, a price-to-earnings ratio of 11.29 and a beta of 0.98.

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

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.12%. Miller Industries’s dividend payout ratio is presently 12.60%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MLR shares. StockNews.com lowered Miller Industries from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. DA Davidson reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Miller Industries in a report on Friday, November 15th.

Miller Industries Company 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.