Punch & Associates Investment Management Inc. Purchases New Holdings in Miller Industries, Inc. $MLR

Punch & Associates Investment Management Inc. purchased a new stake in shares of Miller Industries, Inc. (NYSE:MLR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 81,186 shares of the auto parts company’s stock, valued at approximately $3,034,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Miller Industries by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock valued at $281,000 after acquiring an additional 312 shares during the period. EverSource Wealth Advisors LLC increased its stake in Miller Industries by 66.5% during the second quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after acquiring an additional 329 shares during the period. SG Americas Securities LLC increased its stake in Miller Industries by 4.0% during the fourth quarter. SG Americas Securities LLC now owns 13,141 shares of the auto parts company’s stock valued at $491,000 after acquiring an additional 504 shares during the period. IFP Advisors Inc increased its stake in Miller Industries by 200.0% during the fourth quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock valued at $34,000 after acquiring an additional 604 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Miller Industries by 6.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,100 shares of the auto parts company’s stock valued at $452,000 after acquiring an additional 700 shares during the period. 79.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MLR has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a research note on Friday, March 27th. Loop Capital set a $44.00 price objective on Miller Industries in a research note on Monday, March 9th. Zacks Research lowered Miller Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Finally, DA Davidson upped their price objective on Miller Industries from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Miller Industries presently has a consensus rating of “Hold” and an average target price of $50.00.

Miller Industries Trading Up 0.1%

Shares of NYSE:MLR opened at $49.09 on Wednesday. Miller Industries, Inc. has a 52-week low of $33.81 and a 52-week high of $49.89. The company has a market capitalization of $559.60 million, a P/E ratio of 36.63 and a beta of 1.11. The company has a 50-day simple moving average of $47.65 and a 200 day simple moving average of $43.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 2.98.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. The firm had revenue of $180.86 million during the quarter, compared to analyst estimates of $181.10 million. Sell-side analysts forecast that Miller Industries, Inc. will post 1.9 earnings per share for the current year.

Miller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, June 1st. Miller Industries’s dividend payout ratio (DPR) is 62.69%.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.