Royce & Associates LP Has $30.29 Million Stake in Miller Industries, Inc. (NYSE:MLR)

Royce & Associates LP raised its holdings in Miller Industries, Inc. (NYSE:MLR) by 12.9% in the third quarter, Holdings Channel reports. The fund owned 496,528 shares of the auto parts company’s stock after acquiring an additional 56,578 shares during the period. Royce & Associates LP’s holdings in Miller Industries were worth $30,288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in Miller Industries in the second quarter valued at about $39,000. Point72 DIFC Ltd grew its stake in Miller Industries by 146.9% in the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 595 shares during the period. EntryPoint Capital LLC grew its stake in Miller Industries by 101.3% in the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after acquiring an additional 913 shares during the period. Quest Partners LLC acquired a new position in Miller Industries in the second quarter valued at about $200,000. Finally, Lakewood Asset Management LLC acquired a new position in Miller Industries in the third quarter valued at about $250,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. DA Davidson restated a “buy” rating and issued a $82.00 price target on shares of Miller Industries in a report on Friday. StockNews.com lowered Miller Industries from a “buy” rating to a “hold” rating in a report on Wednesday.

Miller Industries Stock Performance

Shares of Miller Industries stock opened at $66.16 on Friday. The firm has a market cap of $756.80 million, a price-to-earnings ratio of 10.97 and a beta of 0.94. The stock’s 50-day moving average is $63.81 and its 200-day moving average is $60.50. Miller Industries, Inc. has a one year low of $38.33 and a one year high of $78.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.44.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.15%. Miller Industries’s dividend payout ratio (DPR) is 12.60%.

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.