Redmont Wealth Advisors LLC Boosts Stake in Miller Industries, Inc. (NYSE:MLR)

Redmont Wealth Advisors LLC boosted its position in shares of Miller Industries, Inc. (NYSE:MLR) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,392 shares of the auto parts company’s stock after purchasing an additional 282 shares during the quarter. Miller Industries comprises about 1.4% of Redmont Wealth Advisors LLC’s holdings, making the stock its 19th biggest holding. Redmont Wealth Advisors LLC owned 0.11% of Miller Industries worth $810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 DIFC Ltd boosted 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 worth $55,000 after buying an additional 595 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Miller Industries during the 3rd quarter valued at about $195,000. Lakewood Asset Management LLC purchased a new stake in shares of Miller Industries during the 3rd quarter valued at about $250,000. SG Americas Securities LLC lifted its stake in shares of Miller Industries by 84.8% in the 3rd quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock worth $314,000 after purchasing an additional 2,364 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in shares of Miller Industries by 3.5% in the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock worth $352,000 after buying an additional 194 shares during the last quarter. Institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Up 0.8 %

Miller Industries stock opened at $68.58 on Thursday. The firm has a market cap of $784.57 million, a P/E ratio of 11.37 and a beta of 0.98. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a twelve month low of $39.92 and a twelve month high of $78.25. The business has a fifty day moving average of $68.91 and a two-hundred day moving average of $64.67.

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

Miller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.11%. Miller Industries’s dividend payout ratio is presently 12.60%.

Wall Street Analysts Forecast Growth

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

Miller Industries 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.