Vanguard Group Inc. Purchases 6,937 Shares of Miller Industries, Inc. (NYSE:MLR)

Vanguard Group Inc. increased its position in shares of Miller Industries, Inc. (NYSE:MLR) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546,369 shares of the auto parts company’s stock after purchasing an additional 6,937 shares during the period. Vanguard Group Inc. owned 4.77% of Miller Industries worth $21,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MLR. FMR LLC raised its position in shares of Miller Industries by 202,359.2% during the 1st quarter. FMR LLC now owns 317,861 shares of the auto parts company’s stock valued at $11,236,000 after purchasing an additional 317,704 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Miller Industries by 11.4% during the 1st quarter. Thrivent Financial for Lutherans now owns 966,162 shares of the auto parts company’s stock valued at $34,154,000 after purchasing an additional 98,692 shares during the period. Deutsche Bank AG raised its position in shares of Miller Industries by 654.4% during the 2nd quarter. Deutsche Bank AG now owns 45,390 shares of the auto parts company’s stock valued at $1,029,000 after purchasing an additional 39,373 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Miller Industries by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 112,077 shares of the auto parts company’s stock valued at $3,156,000 after purchasing an additional 34,183 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Miller Industries by 26.2% in the 2nd quarter. Renaissance Technologies LLC now owns 130,200 shares of the auto parts company’s stock valued at $2,952,000 after acquiring an additional 27,000 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th.

Miller Industries Stock Performance

Shares of NYSE MLR opened at $50.28 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.37 and a current ratio of 2.17. The company has a market cap of $575.50 million, a P/E ratio of 9.92 and a beta of 1.04. The firm’s fifty day moving average is $46.81 and its two-hundred day moving average is $42.13. Miller Industries, Inc. has a 52-week low of $32.13 and a 52-week high of $53.82.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. The company had revenue of $296.25 million for the quarter. Miller Industries had a net margin of 5.05% and a return on equity of 17.97%.

Miller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were paid a $0.19 dividend. This is a boost from Miller Industries’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, March 15th. Miller Industries’s dividend payout ratio (DPR) is presently 14.99%.

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.