First Wilshire Securities Management Inc. decreased its holdings in Miller Industries, Inc. (NYSE:MLR) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,448 shares of the auto parts company’s stock after selling 475 shares during the period. First Wilshire Securities Management Inc. owned about 0.69% of Miller Industries worth $2,412,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MLR. Advisory Services Network LLC acquired a new position in shares of Miller Industries in the 2nd quarter valued at about $30,000. BNP Paribas Arbitrage SA increased its holdings in shares of Miller Industries by 688.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,311 shares of the auto parts company’s stock valued at $71,000 after purchasing an additional 2,018 shares during the period. Value Holdings Management CO. LLC acquired a new position in shares of Miller Industries in the 1st quarter valued at about $93,000. SG Americas Securities LLC acquired a new position in shares of Miller Industries in the 2nd quarter valued at about $135,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Miller Industries in the 1st quarter valued at about $204,000. Institutional investors own 87.11% of the company’s stock.
In related news, CEO Jeffrey I. Badgley sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.53, for a total value of $325,300.00. Following the transaction, the chief executive officer now owns 2,180 shares in the company, valued at $70,915.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theodore H. Ashford III sold 8,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $32.22, for a total value of $257,760.00. Following the completion of the transaction, the director now owns 13,903 shares in the company, valued at approximately $447,954.66. The disclosure for this sale can be found here. Insiders sold 31,820 shares of company stock worth $1,031,245 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
Shares of MLR opened at $34.42 on Friday. The company has a market capitalization of $392.39 million, a price-to-earnings ratio of 10.13 and a beta of 1.01. Miller Industries, Inc. has a fifty-two week low of $22.80 and a fifty-two week high of $35.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.05 and a quick ratio of 1.47. The business’s 50-day moving average is $32.00 and its 200-day moving average is $31.38.
Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, August 7th. The auto parts company reported $0.94 earnings per share for the quarter. Miller Industries had a return on equity of 16.81% and a net margin of 4.88%. The company had revenue of $222.35 million for the quarter.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.72 dividend on an annualized basis and a yield of 2.09%.
Miller Industries Company Profile
Miller Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. It 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 that are used to transport new or disabled vehicles and other equipment.
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