Semanteon Capital Management LP Purchases New Shares in Miller Industries, Inc. $MLR

Semanteon Capital Management LP bought a new position in Miller Industries, Inc. (NYSE:MLR) during the second quarter, Holdings Channel reports. The fund bought 7,423 shares of the auto parts company’s stock, valued at approximately $330,000.

Other large investors have also recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC boosted its holdings in Miller Industries by 21.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 98,994 shares of the auto parts company’s stock worth $4,194,000 after acquiring an additional 17,197 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Miller Industries by 587.3% in the first quarter. Victory Capital Management Inc. now owns 32,187 shares of the auto parts company’s stock worth $1,364,000 after buying an additional 27,504 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Miller Industries by 3.5% during the first quarter. Principal Financial Group Inc. now owns 9,194 shares of the auto parts company’s stock valued at $390,000 after acquiring an additional 307 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Miller Industries by 21.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 113,733 shares of the auto parts company’s stock valued at $4,819,000 after acquiring an additional 20,191 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Miller Industries by 114.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 16,836 shares of the auto parts company’s stock valued at $713,000 after purchasing an additional 8,976 shares during the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on MLR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miller Industries in a research report on Thursday. Zacks Research raised Miller Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, Loop Capital set a $46.00 target price on Miller Industries in a report on Monday, November 10th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.00.

Miller Industries Trading Down 1.1%

NYSE:MLR opened at $37.70 on Monday. The firm has a market capitalization of $430.95 million, a price-to-earnings ratio of 10.30 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.19. The business has a fifty day moving average price of $39.86 and a 200-day moving average price of $42.45. Miller Industries, Inc. has a one year low of $33.81 and a one year high of $76.25.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, November 5th. The auto parts company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.25. The firm had revenue of $178.67 million during the quarter, compared to analysts’ expectations of $177.55 million. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. Miller Industries has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, December 2nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, December 2nd. Miller Industries’s dividend payout ratio (DPR) is currently 30.77%.

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.