Quadrature Capital Ltd Buys 2,677 Shares of Miller Industries, Inc. (NYSE:MLR)

Quadrature Capital Ltd boosted its stake in shares of Miller Industries, Inc. (NYSE:MLR) by 13.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,346 shares of the auto parts company’s stock after buying an additional 2,677 shares during the quarter. Quadrature Capital Ltd owned approximately 0.19% of Miller Industries worth $1,118,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC boosted its holdings in shares of Miller Industries by 6.4% in the fourth quarter. Redmont Wealth Advisors LLC now owns 17,209 shares of the auto parts company’s stock valued at $728,000 after purchasing an additional 1,033 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Miller Industries during the first quarter valued at $688,000. Susquehanna Fundamental Investments LLC purchased a new stake in Miller Industries in the first quarter worth about $439,000. Hillsdale Investment Management Inc. raised its holdings in shares of Miller Industries by 1,404.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock valued at $2,864,000 after purchasing an additional 53,373 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Miller Industries during the fourth quarter valued at approximately $292,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th.

Miller Industries Stock Up 1.0 %

Shares of MLR stock traded up $0.67 during mid-day trading on Friday, hitting $66.19. 108,284 shares of the stock traded hands, compared to its average volume of 103,672. The stock’s fifty day moving average is $58.44 and its two-hundred day moving average is $51.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.03 and a quick ratio of 1.36. Miller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $66.98. The stock has a market cap of $759.20 million, a P/E ratio of 11.55 and a beta of 0.97.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, May 8th. The auto parts company reported $1.47 earnings per share for the quarter. Miller Industries had a net margin of 5.41% and a return on equity of 19.46%. The company had revenue of $349.87 million during the quarter.

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.15%. Miller Industries’s payout ratio is 13.26%.

About Miller Industries

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.