Insider Selling: Miller Industries, Inc. (NYSE:MLR) Director Sells $257,760.00 in Stock

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Miller Industries, Inc. (NYSE:MLR) Director Theodore H. Ashford III sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $32.22, for a total transaction of $257,760.00. Following the completion of the sale, the director now owns 13,903 shares of the company’s stock, valued at approximately $447,954.66. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Miller Industries stock opened at $31.38 on Friday. The firm has a market cap of $371.76 million, a PE ratio of 9.56 and a beta of 0.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.47 and a current ratio of 2.05. The firm’s 50 day moving average price is $31.03 and its two-hundred day moving average price is $31.27. Miller Industries, Inc. has a twelve month low of $22.80 and a twelve month high of $35.26.

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

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

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

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new position in Miller Industries in the 2nd quarter valued at approximately $30,000. BNP Paribas Arbitrage SA increased its stake in Miller Industries by 688.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,311 shares of the auto parts company’s stock valued at $71,000 after buying an additional 2,018 shares during the period. Value Holdings Management CO. LLC acquired a new position in Miller Industries in the 1st quarter valued at approximately $93,000. Metropolitan Life Insurance Co. NY increased its stake in Miller Industries by 383.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,247 shares of the auto parts company’s stock valued at $115,000 after buying an additional 3,369 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Miller Industries in the 2nd quarter valued at approximately $135,000. Hedge funds and other institutional investors own 86.81% of the company’s stock.

Miller Industries Company Profile

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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