Thrivent Financial for Lutherans Lowers Holdings in Miller Industries, Inc. (NYSE:MLR)

Thrivent Financial for Lutherans trimmed its position in Miller Industries, Inc. (NYSE:MLR) by 38.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510,246 shares of the auto parts company’s stock after selling 312,835 shares during the period. Thrivent Financial for Lutherans owned approximately 4.46% of Miller Industries worth $31,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royce & Associates LP grew its position in Miller Industries by 12.9% in the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock valued at $30,288,000 after buying an additional 56,578 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Miller Industries by 1.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company’s stock worth $8,500,000 after purchasing an additional 1,722 shares in the last quarter. AdvisorShares Investments LLC boosted its position in shares of Miller Industries by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock worth $7,426,000 after purchasing an additional 9,384 shares in the last quarter. Narwhal Capital Management boosted its position in shares of Miller Industries by 31.2% during the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock worth $6,928,000 after purchasing an additional 26,983 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Miller Industries by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 100,538 shares of the auto parts company’s stock worth $5,532,000 after purchasing an additional 1,253 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MLR has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and set a $82.00 target price on shares of Miller Industries in a research report on Friday, November 15th. StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Miller Industries Price Performance

Miller Industries stock opened at $68.00 on Wednesday. Miller Industries, Inc. has a 52 week low of $38.33 and a 52 week high of $78.25. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $64.17 and its 200 day simple moving average is $60.89. The firm has a market capitalization of $777.92 million, a PE ratio of 11.27 and a beta of 0.94.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, hitting the consensus estimate of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The business had revenue of $314.27 million for the quarter. During the same quarter in the prior year, the firm earned $1.52 earnings per share. On average, equities research analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.12%. Miller Industries’s dividend payout ratio is presently 12.60%.

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.