Miller Industries (NYSE:MLR) Lifted to “Buy” at StockNews.com

Miller Industries (NYSE:MLR – Get Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Miller Industries Stock Performance

Shares of MLR stock opened at $31.87 on Monday. The business’s 50 day simple moving average is $28.41 and its 200 day simple moving average is $26.11. Miller Industries has a one year low of $21.00 and a one year high of $32.10. The stock has a market capitalization of $363.96 million, a PE ratio of 17.90 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.41 and a quick ratio of 1.42.

Hedge Funds Weigh In On Miller Industries

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Miller Industries by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 895,081 shares of the auto parts company’s stock valued at $23,864,000 after buying an additional 3,540 shares during the period. Thrivent Financial for Lutherans lifted its stake in Miller Industries by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 867,470 shares of the auto parts company’s stock valued at $23,127,000 after buying an additional 40,206 shares during the period. Vanguard Group Inc. lifted its stake in Miller Industries by 0.9% in the third quarter. Vanguard Group Inc. now owns 530,071 shares of the auto parts company’s stock valued at $11,285,000 after buying an additional 4,551 shares during the period. Systematic Financial Management LP lifted its stake in Miller Industries by 1.8% in the fourth quarter. Systematic Financial Management LP now owns 381,907 shares of the auto parts company’s stock valued at $10,182,000 after buying an additional 6,647 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Miller Industries by 8.2% in the fourth quarter. Franklin Resources Inc. now owns 329,416 shares of the auto parts company’s stock valued at $8,782,000 after buying an additional 25,064 shares during the period. 77.38% of the stock is owned by institutional investors and hedge funds.

Miller Industries Company Profile

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Miller Industries, Inc (Tennessee) engages in the manufacture of vehicle towing and recovery equipment. Its products include car carriers, light duty, heavy duty, rotators, and special transport. The firm markets its products under the brand names of Century, Challenger, Holmes, Champion, Eagle, Titan, Jige, Boniface, Vulcan, �and Chevron.