Royce & Associates LP Acquires 56,578 Shares of Miller Industries, Inc. (NYSE:MLR)

Royce & Associates LP raised its holdings in Miller Industries, Inc. (NYSE:MLR) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 496,528 shares of the auto parts company’s stock after purchasing an additional 56,578 shares during the quarter. Royce & Associates LP owned approximately 4.34% of Miller Industries worth $30,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MLR. Innealta Capital LLC acquired a new stake in shares of Miller Industries in the 2nd quarter valued at $39,000. Point72 DIFC Ltd increased its stake in shares of Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after buying an additional 595 shares during the period. EntryPoint Capital LLC increased its stake in shares of Miller Industries by 101.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after buying an additional 913 shares during the period. Quest Partners LLC acquired a new stake in shares of Miller Industries in the 2nd quarter valued at $200,000. Finally, Lakewood Asset Management LLC acquired a new stake in shares of Miller Industries in the 3rd quarter valued at $250,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Stock Down 1.9 %

Shares of Miller Industries stock opened at $66.16 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a 12 month low of $38.33 and a 12 month high of $78.25. The business has a fifty day simple moving average of $63.81 and a 200 day simple moving average of $60.50. The stock has a market cap of $756.80 million, a PE ratio of 10.97 and a beta of 0.94.

Miller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.15%. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

Analysts Set New Price Targets

MLR has been the subject of several research reports. StockNews.com cut Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. DA Davidson reissued a “buy” rating and issued a $82.00 target price on shares of Miller Industries in a research note on Friday.

Miller Industries Company 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.