KBC Group NV Maintains Stake in Miller Industries, Inc. (MLR)

KBC Group NV continued to hold its stake in Miller Industries, Inc. (NYSE:MLR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,256 shares of the auto parts company’s stock at the end of the second quarter. KBC Group NV’s holdings in Miller Industries were worth $106,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Miller Industries by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 144,037 shares of the auto parts company’s stock worth $3,579,000 after acquiring an additional 1,073 shares during the last quarter. Strs Ohio purchased a new position in Miller Industries in the second quarter worth approximately $171,000. Bessemer Group Inc. lifted its stake in 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 worth $291,000 after acquiring an additional 11,558 shares during the last quarter. Finally, Algert Global LLC purchased a new position in Miller Industries in the second quarter worth approximately $291,000. Institutional investors own 84.22% of the company’s stock.

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

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Shares of Miller Industries, Inc. (MLR) opened at 25.20 on Wednesday. Miller Industries, Inc. has a 12 month low of $20.84 and a 12 month high of $28.85. The stock has a market cap of $286.70 million, a P/E ratio of 15.00 and a beta of 0.61. The stock’s 50 day moving average is $25.02 and its 200 day moving average is $25.09.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Monday, September 11th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, September 8th. Miller Industries’s payout ratio is currently 42.60%.

About Miller Industries

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.

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

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