Redmont Wealth Advisors LLC Has $739,000 Stock Position in Miller Industries, Inc. (NYSE:MLR)

Redmont Wealth Advisors LLC lessened its holdings in Miller Industries, Inc. (NYSE:MLR) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,110 shares of the auto parts company’s stock after selling 800 shares during the period. Miller Industries comprises 1.1% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Redmont Wealth Advisors LLC owned 0.11% of Miller Industries worth $739,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Miller Industries during the 2nd quarter valued at $39,000. Point72 DIFC Ltd lifted its position in shares of Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 595 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Miller Industries by 101.3% during the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock worth $91,000 after purchasing an additional 913 shares during the last quarter. Quest Partners LLC bought a new stake in Miller Industries in the 2nd quarter worth about $200,000. Finally, Virtu Financial LLC purchased a new stake in Miller Industries in the 4th quarter valued at about $233,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. DA Davidson initiated coverage on Miller Industries in a report on Wednesday, October 2nd. They issued a “buy” rating and a $82.00 target price for the company. StockNews.com downgraded Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday.

Miller Industries Stock Performance

NYSE MLR opened at $63.84 on Friday. The company has a market capitalization of $732.24 million, a PE ratio of 11.14 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. Miller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $69.75. The company has a 50-day simple moving average of $60.22 and a 200 day simple moving average of $58.00.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. The company had revenue of $371.45 million for the quarter. On average, research analysts predict that Miller Industries, Inc. will post 5.6 EPS for the current year.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.19 per share. The ex-dividend date was Monday, September 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.19%. Miller Industries’s dividend payout ratio is presently 13.26%.

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.