Sei Investments Co. Boosts Holdings in Miller Industries, Inc. $MLR

Sei Investments Co. lifted its holdings in Miller Industries, Inc. (NYSE:MLR) by 124.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,565 shares of the auto parts company’s stock after purchasing an additional 25,785 shares during the period. Sei Investments Co.’s holdings in Miller Industries were worth $2,121,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in shares of Miller Industries by 200.0% in 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Miller Industries by 66.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock worth $37,000 after purchasing an additional 329 shares during the period. Russell Investments Group Ltd. increased its holdings in Miller Industries by 736.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 1,001 shares during the period. Raymond James Financial Inc. acquired a new stake in Miller Industries in the 2nd quarter valued at about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Miller Industries in the 3rd quarter valued at about $159,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MLR shares. DA Davidson boosted their price objective on Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Zacks Research raised shares of Miller Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Miller Industries from a “hold” rating to a “strong-buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Miller Industries presently has an average rating of “Hold” and an average target price of $50.00.

Miller Industries Price Performance

Shares of MLR opened at $54.42 on Monday. Miller Industries, Inc. has a 1-year low of $35.72 and a 1-year high of $56.21. The stock has a market cap of $617.63 million, a PE ratio of 43.88 and a beta of 1.11. The firm has a fifty day moving average price of $49.87 and a 200 day moving average price of $46.83.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data on Wednesday, August 5th. The auto parts company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.27. Miller Industries had a return on equity of 3.41% and a net margin of 1.86%.The company had revenue of $239.99 million for the quarter, compared to analyst estimates of $210.80 million. As a group, equities analysts expect that Miller Industries, Inc. will post 1.9 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.84 annualized dividend and a yield of 1.5%. Miller Industries’s payout ratio is 67.74%.

About Miller Industries

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.