Miller Industries, Inc. (NYSE:MLR) Sees Significant Growth in Short Interest

Miller Industries, Inc. (NYSE:MLR) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 202,800 shares, a growth of 8.6% from the August 15th total of 186,800 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 49,200 shares, the short-interest ratio is currently 4.1 days.

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System bought a new stake in Miller Industries during the 2nd quarter worth $30,000. AJO LP bought a new stake in Miller Industries during the 1st quarter worth $37,000. Nisa Investment Advisors LLC grew its position in Miller Industries by 525.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the auto parts company’s stock worth $89,000 after acquiring an additional 2,520 shares during the last quarter. Citigroup Inc. grew its position in Miller Industries by 43.1% during the 1st quarter. Citigroup Inc. now owns 3,423 shares of the auto parts company’s stock worth $97,000 after acquiring an additional 1,031 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Miller Industries by 33.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,444 shares of the auto parts company’s stock worth $97,000 after acquiring an additional 862 shares during the last quarter. Institutional investors and hedge funds own 85.89% of the company’s stock.

Shares of Miller Industries stock traded up $0.70 during trading on Friday, reaching $32.03. 114,547 shares of the company’s stock were exchanged, compared to its average volume of 55,714. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 2.87. Miller Industries has a 1-year low of $25.25 and a 1-year high of $38.18. The company has a market cap of $365.30 million, a P/E ratio of 11.73 and a beta of 1.08. The firm’s 50-day moving average price is $30.49 and its 200 day moving average price is $29.04.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, August 5th. The auto parts company reported $0.51 EPS for the quarter. Miller Industries had a return on equity of 12.02% and a net margin of 4.41%. The company had revenue of $128.53 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, September 7th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, September 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 2.25%.

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.

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