Watershed Asset Management L.L.C. Invests $297,000 in Miller Industries, Inc. (NYSE:MLR)

Watershed Asset Management L.L.C. purchased a new position in shares of Miller Industries, Inc. (NYSE:MLR) in the fourth quarter, Holdings Channel.com reports. The firm purchased 7,012 shares of the auto parts company’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Ellsworth Advisors LLC increased its holdings in shares of Miller Industries by 3.3% during the 4th quarter. Ellsworth Advisors LLC now owns 10,205 shares of the auto parts company’s stock valued at $432,000 after acquiring an additional 327 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Miller Industries by 1.0% during the 4th quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company’s stock valued at $2,168,000 after acquiring an additional 500 shares during the last quarter. Diversified Investment Strategies LLC increased its holdings in shares of Miller Industries by 0.5% during the 3rd quarter. Diversified Investment Strategies LLC now owns 117,400 shares of the auto parts company’s stock valued at $4,603,000 after acquiring an additional 550 shares during the last quarter. Redmont Wealth Advisors LLC increased its holdings in shares of Miller Industries by 6.4% during the 4th quarter. Redmont Wealth Advisors LLC now owns 17,209 shares of the auto parts company’s stock valued at $728,000 after acquiring an additional 1,033 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Miller Industries by 21.9% during the 4th quarter. SG Americas Securities LLC now owns 5,846 shares of the auto parts company’s stock valued at $247,000 after acquiring an additional 1,050 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th.

Miller Industries Stock Performance

MLR traded up $0.42 during midday trading on Tuesday, reaching $50.26. The company’s stock had a trading volume of 48,411 shares, compared to its average volume of 56,030. The stock has a market cap of $575.48 million, a P/E ratio of 9.91 and a beta of 1.04. The company has a fifty day simple moving average of $47.87 and a 200 day simple moving average of $42.69. The company has a current ratio of 2.17, a quick ratio of 1.37 and a debt-to-equity ratio of 0.17. Miller Industries, Inc. has a twelve month low of $32.13 and a twelve month high of $53.82.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. The firm had revenue of $296.25 million for the quarter. Miller Industries had a return on equity of 17.97% and a net margin of 5.05%.

Miller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were issued a $0.19 dividend. The ex-dividend date was Friday, March 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.51%. This is a positive change from Miller Industries’s previous quarterly dividend of $0.18. Miller Industries’s dividend payout ratio (DPR) is 14.99%.

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.