Y Intercept Hong Kong Ltd Makes New Investment in Miller Industries, Inc. $MLR

Y Intercept Hong Kong Ltd acquired a new stake in Miller Industries, Inc. (NYSE:MLR) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 20,043 shares of the auto parts company’s stock, valued at approximately $810,000. Y Intercept Hong Kong Ltd owned 0.17% of Miller Industries at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millennium Management LLC grew its position in Miller Industries by 855.1% in the first quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company’s stock valued at $6,649,000 after acquiring an additional 140,500 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Miller Industries by 64.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company’s stock valued at $12,160,000 after purchasing an additional 112,925 shares in the last quarter. Narwhal Capital Management grew its holdings in shares of Miller Industries by 26.3% in the 2nd quarter. Narwhal Capital Management now owns 153,479 shares of the auto parts company’s stock worth $6,824,000 after purchasing an additional 31,980 shares during the last quarter. RBF Capital LLC acquired a new stake in shares of Miller Industries during the 2nd quarter worth about $1,272,000. Finally, Jane Street Group LLC acquired a new stake in shares of Miller Industries during the 2nd quarter worth about $1,178,000. Institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Up 2.6%

Shares of NYSE MLR opened at $42.02 on Tuesday. The stock has a market cap of $480.28 million, a P/E ratio of 16.16 and a beta of 1.25. The firm has a 50 day moving average price of $39.00 and a 200 day moving average price of $40.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.13 and a current ratio of 3.46. Miller Industries, Inc. has a 52-week low of $33.81 and a 52-week high of $66.93.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, November 5th. The auto parts company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. Miller Industries had a net margin of 3.59% and a return on equity of 7.32%. The company had revenue of $178.67 million for the quarter, compared to analysts’ expectations of $177.55 million. Analysts expect that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Tuesday, December 2nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, December 2nd. Miller Industries’s dividend payout ratio is 30.77%.

Analyst Ratings Changes

MLR has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miller Industries in a research note on Monday, December 29th. Loop Capital set a $46.00 target price on Miller Industries in a report on Monday, November 10th. Finally, Zacks Research upgraded Miller Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Miller Industries has a consensus rating of “Hold” and an average price target of $55.00.

Miller Industries 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.