Miller Industries, Inc. (NYSE:MLR) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 45,100 shares, a decrease of 37.8% from the December 15th total of 72,500 shares. Based on an average daily volume of 31,400 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.4% of the company’s shares are short sold.
MLR traded up $0.13 during trading on Monday, hitting $34.28. 18,125 shares of the company’s stock were exchanged, compared to its average volume of 23,930. The firm’s 50 day moving average price is $34.16. Miller Industries has a fifty-two week low of $31.51 and a fifty-two week high of $47.57. The company has a market cap of $391.17 million, a PE ratio of 15.30 and a beta of 1.00.
Miller Industries (NYSE:MLR) last released its quarterly earnings data on Wednesday, November 3rd. The auto parts company reported $0.34 earnings per share for the quarter. Miller Industries had a net margin of 3.68% and a return on equity of 8.92%. The firm had revenue of $164.72 million for the quarter.
The company also recently announced a quarterly dividend, which was paid on Monday, December 13th. Stockholders of record on Monday, December 6th were paid a $0.18 dividend. The ex-dividend date was Friday, December 3rd. This represents a $0.72 annualized dividend and a dividend yield of 2.10%. Miller Industries’s payout ratio is 32.14%.
Separately, TheStreet downgraded shares of Miller Industries from a “b” rating to a “c+” rating in a research report on Tuesday, November 30th.
A number of large investors have recently modified their holdings of MLR. Advisor Group Holdings Inc. boosted its position in Miller Industries by 321.3% during the second quarter. Advisor Group Holdings Inc. now owns 1,980 shares of the auto parts company’s stock worth $78,000 after purchasing an additional 1,510 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Miller Industries by 1.0% in the second quarter. Panagora Asset Management Inc. now owns 78,011 shares of the auto parts company’s stock valued at $3,077,000 after acquiring an additional 787 shares during the period. Systematic Financial Management LP boosted its position in shares of Miller Industries by 12.7% in the second quarter. Systematic Financial Management LP now owns 244,364 shares of the auto parts company’s stock valued at $9,638,000 after acquiring an additional 27,540 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Miller Industries by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 7,074 shares of the auto parts company’s stock valued at $279,000 after acquiring an additional 449 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Miller Industries by 32.2% in the second quarter. Bank of Montreal Can now owns 161,844 shares of the auto parts company’s stock valued at $6,801,000 after acquiring an additional 39,408 shares during the period. Hedge funds and other institutional investors own 84.38% of the company’s stock.
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About Miller Industries
Miller Industries, Inc (Tennessee) engages in the manufacture of vehicle towing and recovery equipment. Its products include car carriers, light duty, heavy duty, rotators, and special transport. The firm markets its products under the brand names of Century, Challenger, Holmes, Champion, Eagle, Titan, Jige, Boniface, Vulcan, �and Chevron.
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