Olstein Capital Management L.P. Purchases 500 Shares of Miller Industries, Inc. (NYSE:MLR)

Olstein Capital Management L.P. grew its position in shares of Miller Industries, Inc. (NYSE:MLR) by 2.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,500 shares of the auto parts company’s stock after purchasing an additional 500 shares during the period. Olstein Capital Management L.P. owned approximately 0.19% of Miller Industries worth $911,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MLR. Allspring Global Investments Holdings LLC boosted its stake in Miller Industries by 15.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company’s stock valued at $11,652,000 after buying an additional 24,427 shares during the period. Principal Financial Group Inc. increased its stake 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 worth $581,000 after acquiring an additional 757 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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. Raymond James Financial Inc. bought a new stake in shares of Miller Industries during the 4th quarter valued at about $217,000. Finally, Royce & Associates LP grew its holdings in shares of Miller Industries by 29.8% during the fourth quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company’s stock worth $42,132,000 after purchasing an additional 148,079 shares in the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Trading Up 1.4%

Shares of MLR opened at $45.55 on Monday. Miller Industries, Inc. has a 1-year low of $37.40 and a 1-year high of $78.25. The company has a market capitalization of $521.96 million, a P/E ratio of 7.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. The firm’s 50 day simple moving average is $42.97 and its 200 day simple moving average is $55.41.

Miller Industries (NYSE:MLR) last posted its quarterly earnings data 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 firm had revenue of $225.65 million for the quarter, compared to analysts’ expectations of $224.35 million. Sell-side analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.76%. 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.