Miller Industries, Inc. (NYSE:MLR) CEO Sells $325,300.00 in Stock

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Miller Industries, Inc. (NYSE:MLR) CEO Jeffrey I. Badgley sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.53, for a total transaction of $325,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,180 shares in the company, valued at $70,915.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

MLR opened at $31.38 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.05 and a quick ratio of 1.47. The firm has a fifty day moving average price of $31.03 and a 200 day moving average price of $31.27. Miller Industries, Inc. has a 1 year low of $22.80 and a 1 year high of $35.26. The stock has a market cap of $370.39 million, a P/E ratio of 9.53 and a beta of 0.99.

Miller Industries (NYSE:MLR) last posted its earnings results on Wednesday, August 7th. The auto parts company reported $0.94 earnings per share (EPS) for the quarter. Miller Industries had a net margin of 4.88% and a return on equity of 16.81%. The firm had revenue of $222.35 million during the quarter.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, September 6th.

Separately, ValuEngine cut shares of Miller Industries from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GW&K Investment Management LLC acquired a new position in Miller Industries during the second quarter worth $6,158,000. Wells Fargo & Company MN raised its position in Miller Industries by 24.1% during the second quarter. Wells Fargo & Company MN now owns 282,179 shares of the auto parts company’s stock worth $8,677,000 after acquiring an additional 54,880 shares during the period. Bowling Portfolio Management LLC acquired a new position in Miller Industries during the second quarter worth $1,398,000. EAM Global Investors LLC acquired a new position in Miller Industries during the first quarter worth $1,175,000. Finally, BlackRock Inc. raised its position in Miller Industries by 3.7% during the second quarter. BlackRock Inc. now owns 1,047,926 shares of the auto parts company’s stock worth $32,223,000 after acquiring an additional 36,906 shares during the period. Hedge funds and other institutional investors own 86.81% of the company’s stock.

About Miller Industries

Miller Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. It 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 that are used to transport new or disabled vehicles and other equipment.

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