Balyasny Asset Management L.P. Invests $377,000 in Miller Industries, Inc. (NYSE:MLR)

Balyasny Asset Management L.P. acquired a new position in shares of Miller Industries, Inc. (NYSE:MLR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,770 shares of the auto parts company’s stock, valued at approximately $377,000. Balyasny Asset Management L.P. owned approximately 0.05% of Miller Industries at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Miller Industries by 15.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company’s stock worth $11,652,000 after purchasing an additional 24,427 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Miller Industries by 58.6% in the 4th quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company’s stock valued at $3,830,000 after acquiring an additional 21,643 shares in the last quarter. Principal Financial Group Inc. lifted its position in Miller Industries by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 8,887 shares of the auto parts company’s stock valued at $581,000 after acquiring an additional 757 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Miller Industries by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 93,542 shares of the auto parts company’s stock valued at $6,114,000 after acquiring an additional 587 shares in the last quarter. Finally, Norges Bank bought a new position in Miller Industries in the 4th quarter valued at about $1,850,000. Institutional investors own 79.24% of the company’s stock.

Miller Industries Price Performance

Shares of NYSE MLR opened at $46.38 on Friday. Miller Industries, Inc. has a fifty-two week low of $37.40 and a fifty-two week high of $78.25. The stock has a market cap of $531.51 million, a price-to-earnings ratio of 7.69 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The firm’s 50-day simple moving average is $42.58 and its 200 day simple moving average is $58.29.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.09. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The business had revenue of $225.65 million for the quarter, compared to analysts’ expectations of $224.35 million. As a group, research analysts anticipate that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.72%. Miller Industries’s payout ratio is 16.99%.

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.