First Wilshire Securities Management Inc. trimmed its holdings in Miller Industries, Inc. (NYSE:MLR) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,448 shares of the auto parts company’s stock after selling 475 shares during the quarter. First Wilshire Securities Management Inc.’s holdings in Miller Industries were worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of MLR. Advisory Services Network LLC bought a new position in Miller Industries in the second quarter worth $30,000. BNP Paribas Arbitrage SA lifted its position in Miller Industries by 688.7% in the first quarter. BNP Paribas Arbitrage SA now owns 2,311 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 2,018 shares during the period. Value Holdings Management CO. LLC bought a new position in Miller Industries in the first quarter worth $93,000. SG Americas Securities LLC bought a new position in Miller Industries in the second quarter worth $135,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Miller Industries in the first quarter worth $204,000. 87.11% of the stock is owned by hedge funds and other institutional investors.
Shares of MLR stock opened at $34.42 on Friday. The stock has a market cap of $392.39 million, a P/E ratio of 10.13 and a beta of 1.01. Miller Industries, Inc. has a one year low of $22.80 and a one year high of $35.26. The stock has a fifty day moving average price of $32.00 and a 200 day moving average price of $31.38. 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 company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.72 annualized dividend and a yield of 2.09%.
In related news, Director Theodore H. Ashford III sold 6,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $32.30, for a total value of $193,800.00. Following the completion of the transaction, the director now directly owns 13,903 shares of the company’s stock, valued at $449,066.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Theodore H. Ashford III sold 8,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $32.22, for a total value of $257,760.00. Following the completion of the transaction, the director now directly owns 13,903 shares of the company’s stock, valued at $447,954.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,820 shares of company stock valued at $1,031,245. 3.90% of the stock is owned by company insiders.
Separately, ValuEngine cut Miller Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
Miller Industries 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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