Jacobs Levy Equity Management Inc. Lowers Position in Miller Industries, Inc. (NYSE:MLR)

Jacobs Levy Equity Management Inc. cut its stake in Miller Industries, Inc. (NYSE:MLR) by 56.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,860 shares of the auto parts company’s stock after selling 10,050 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.07% of Miller Industries worth $514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MLR. JPMorgan Chase & Co. raised its stake in shares of Miller Industries by 58.7% in the third quarter. JPMorgan Chase & Co. now owns 36,963 shares of the auto parts company’s stock worth $2,255,000 after purchasing an additional 13,679 shares during the last quarter. Ellsworth Advisors LLC raised its stake in shares of Miller Industries by 4.2% in the fourth quarter. Ellsworth Advisors LLC now owns 12,334 shares of the auto parts company’s stock worth $806,000 after purchasing an additional 492 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Miller Industries by 5.2% in the fourth quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company’s stock worth $354,000 after purchasing an additional 270 shares during the last quarter. Redmont Wealth Advisors LLC raised its stake in shares of Miller Industries by 2.3% in the fourth quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company’s stock worth $810,000 after purchasing an additional 282 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Miller Industries in the fourth quarter worth approximately $36,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Stock Performance

MLR stock opened at $46.38 on Friday. The firm has a market cap of $531.51 million, a PE ratio of 7.69 and a beta of 1.20. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $42.58 and a 200-day moving average of $58.08. Miller Industries, Inc. has a 12-month low of $37.40 and a 12-month high of $78.25.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.09. The company had revenue of $225.65 million during the quarter, compared to analyst estimates of $224.35 million. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. As a group, sell-side analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, June 2nd. Miller Industries’s dividend payout ratio is presently 16.99%.

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.