GHP Investment Advisors Inc. Decreases Stock Holdings in Miller Industries, Inc. $MLR

GHP Investment Advisors Inc. trimmed its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 12.4% in the second quarter, HoldingsChannel.com reports. The fund owned 38,940 shares of the auto parts company’s stock after selling 5,519 shares during the period. GHP Investment Advisors Inc.’s holdings in Miller Industries were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Miller Industries by 98.0% during the first quarter. IFP Advisors Inc now owns 608 shares of the auto parts company’s stock valued at $26,000 after acquiring an additional 301 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Miller Industries by 1,842.0% during the second quarter. Public Employees Retirement System of Ohio now owns 1,709 shares of the auto parts company’s stock valued at $76,000 after acquiring an additional 1,621 shares during the last quarter. AlphaQuest LLC increased its position in shares of Miller Industries by 230.3% during the first quarter. AlphaQuest LLC now owns 1,985 shares of the auto parts company’s stock valued at $84,000 after acquiring an additional 1,384 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Miller Industries during the first quarter valued at approximately $140,000. Finally, Strs Ohio purchased a new stake in shares of Miller Industries during the first quarter valued at approximately $182,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on MLR shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Miller Industries in a research report on Wednesday, October 8th. Zacks Research upgraded Miller Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.00.

Miller Industries Stock Performance

Shares of MLR opened at $39.81 on Tuesday. The firm has a market cap of $456.14 million, a PE ratio of 10.88 and a beta of 1.24. The stock’s fifty day moving average price is $40.49 and its two-hundred day moving average price is $42.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.19. Miller Industries, Inc. has a 1 year low of $33.81 and a 1 year high of $78.25.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.18. The firm had revenue of $214.03 million for the quarter, compared to analyst estimates of $234.95 million. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. On average, equities research analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.20 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. Miller Industries’s payout ratio is 21.86%.

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.