North Star Investment Management Corp. Grows Stock Holdings in Miller Industries, Inc. $MLR

North Star Investment Management Corp. boosted its stake in Miller Industries, Inc. (NYSE:MLR) by 73.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 61,506 shares of the auto parts company’s stock after purchasing an additional 26,000 shares during the period. North Star Investment Management Corp.’s holdings in Miller Industries were worth $2,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MLR. IFP Advisors Inc lifted its position in Miller Industries by 200.0% during the 4th quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock worth $34,000 after acquiring an additional 604 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Miller Industries by 66.5% in the second quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 329 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Miller Industries by 736.0% in the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 1,001 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Miller Industries during the second quarter worth approximately $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Miller Industries during the third quarter worth approximately $159,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Stock Down 0.6%

MLR opened at $52.62 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.98 and a quick ratio of 1.78. The business has a 50 day simple moving average of $48.13 and a 200-day simple moving average of $44.37. The stock has a market capitalization of $599.88 million, a P/E ratio of 39.27 and a beta of 1.11. Miller Industries, Inc. has a 12 month low of $33.81 and a 12 month high of $52.93.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. The business had revenue of $180.86 million during the quarter, compared to analysts’ expectations of $181.10 million. On average, equities analysts anticipate that Miller Industries, Inc. will post 1.9 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 1st. Miller Industries’s payout ratio is presently 62.69%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MLR. Loop Capital set a $44.00 price target on Miller Industries in a report on Monday, March 9th. Zacks Research cut shares of Miller Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. DA Davidson upped their price objective on shares of Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.00.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.