Miller Industries, Inc. (NYSE:MLR) Short Interest Down 10.9% in July

Miller Industries, Inc. (NYSE:MLR) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 96,400 shares, a decrease of 10.9% from the June 30th total of 108,200 shares. Based on an average daily volume of 42,000 shares, the short-interest ratio is currently 2.3 days. Approximately 0.9% of the company’s stock are sold short.

Separately, ValuEngine lowered shares of Miller Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

Miller Industries stock traded up $0.71 on Friday, reaching $32.09. 28,934 shares of the stock were exchanged, compared to its average volume of 38,853. The firm has a fifty day moving average price of $31.07 and a two-hundred day moving average price of $31.27. The stock has a market cap of $371.76 million, a PE ratio of 9.56 and a beta of 0.99. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09. Miller Industries has a twelve month low of $22.80 and a twelve month high of $35.26.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $0.94 EPS for the quarter. The business had revenue of $222.35 million during the quarter. Miller Industries had a net margin of 4.88% and a return on equity of 16.81%.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, September 6th.

In other Miller Industries news, Director Theodore H. Ashford III sold 6,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $32.30, for a total transaction of $193,800.00. Following the completion of the transaction, the director now owns 13,903 shares of the company’s stock, valued at approximately $449,066.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey I. Badgley sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.53, for a total transaction of $325,300.00. Following the transaction, the chief executive officer now directly owns 2,180 shares of the company’s stock, valued at approximately $70,915.40. The disclosure for this sale can be found here. Insiders sold 31,820 shares of company stock valued at $1,031,245 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MLR. CNA Financial Corp raised its position in Miller Industries by 19.3% in the first quarter. CNA Financial Corp now owns 10,527 shares of the auto parts company’s stock worth $325,000 after purchasing an additional 1,700 shares in the last quarter. Geode Capital Management LLC raised its position in Miller Industries by 23.7% in the fourth quarter. Geode Capital Management LLC now owns 117,927 shares of the auto parts company’s stock worth $3,184,000 after purchasing an additional 22,588 shares in the last quarter. Northern Trust Corp raised its position in Miller Industries by 3.1% in the fourth quarter. Northern Trust Corp now owns 155,044 shares of the auto parts company’s stock worth $4,186,000 after purchasing an additional 4,669 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Miller Industries in the first quarter worth about $218,000. Finally, Alambic Investment Management L.P. raised its position in Miller Industries by 2.6% in the first quarter. Alambic Investment Management L.P. now owns 16,870 shares of the auto parts company’s stock worth $520,000 after purchasing an additional 429 shares in the last quarter. 86.81% of the stock is owned by institutional investors and hedge funds.

About Miller Industries

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.

Read More: Neutral Rating

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