Jefferies Financial Group Inc. acquired a new position in Miller Industries, Inc. (NYSE:MLR – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,107 shares of the auto parts company’s stock, valued at approximately $677,000. Jefferies Financial Group Inc. owned about 0.16% of Miller Industries as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new position in shares of Miller Industries in the 3rd quarter worth approximately $1,598,000. Citigroup Inc. lifted its holdings in shares of Miller Industries by 219.6% in the 3rd quarter. Citigroup Inc. now owns 63,227 shares of the auto parts company’s stock worth $2,556,000 after acquiring an additional 43,444 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Miller Industries by 24.3% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 121,261 shares of the auto parts company’s stock worth $4,901,000 after acquiring an additional 23,683 shares during the last quarter. Azarias Capital Management L.P. acquired a new position in shares of Miller Industries in the 4th quarter worth approximately $1,497,000. Finally, Invenomic Capital Management LP acquired a new position in shares of Miller Industries in the 3rd quarter worth approximately $4,442,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.
Miller Industries Stock Performance
NYSE:MLR opened at $47.99 on Friday. The company has a fifty day simple moving average of $46.85 and a two-hundred day simple moving average of $42.72. The company has a market cap of $547.07 million, a price-to-earnings ratio of 35.81 and a beta of 1.13. The company has a quick ratio of 1.78, a current ratio of 2.98 and a debt-to-equity ratio of 0.05. Miller Industries, Inc. has a 52 week low of $33.81 and a 52 week high of $49.89.
Miller Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, June 1st will be paid a $0.21 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.84 annualized dividend and a dividend yield of 1.8%. Miller Industries’s payout ratio is 62.69%.
Wall Street Analyst Weigh In
MLR has been the topic of several recent analyst reports. Zacks Research upgraded shares of Miller Industries from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a report on Friday, March 27th. Loop Capital set a $44.00 target price on shares of Miller Industries in a report on Monday, March 9th. Finally, DA Davidson raised their price target on shares of Miller Industries from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.00.
Check Out Our Latest Stock Report on MLR
About Miller Industries
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.
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