GHP Investment Advisors Inc. Sells 1,723 Shares of Miller Industries, Inc. (NYSE:MLR)

GHP Investment Advisors Inc. trimmed its holdings in Miller Industries, Inc. (NYSE:MLR) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,939 shares of the auto parts company’s stock after selling 1,723 shares during the period. GHP Investment Advisors Inc. owned about 0.48% of Miller Industries worth $3,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MLR. GSA Capital Partners LLP bought a new position in Miller Industries in the 1st quarter valued at about $688,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Miller Industries in the first quarter valued at approximately $439,000. Hillsdale Investment Management Inc. boosted its position in shares of Miller Industries by 1,404.6% during the first quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock valued at $2,864,000 after buying an additional 53,373 shares during the last quarter. AdvisorShares Investments LLC grew its holdings in Miller Industries by 7.4% during the second quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock worth $7,426,000 after buying an additional 9,384 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Miller Industries in the 4th quarter valued at $292,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Miller Industries Trading Up 0.4 %

Shares of MLR stock opened at $58.05 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. The company has a market capitalization of $664.67 million, a price-to-earnings ratio of 10.13 and a beta of 0.96. 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 $60.58 and a two-hundred day simple moving average of $55.69.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. The firm had revenue of $371.45 million for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%.

Miller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Monday, September 9th. Miller Industries’s dividend payout ratio is presently 13.26%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th.

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.