Franklin Resources Inc. Sells 32,464 Shares of Miller Industries, Inc. (NYSE:MLR)

Franklin Resources Inc. decreased its position in Miller Industries, Inc. (NYSE:MLR) by 11.6% during the third quarter, HoldingsChannel reports. The firm owned 247,044 shares of the auto parts company’s stock after selling 32,464 shares during the quarter. Franklin Resources Inc.’s holdings in Miller Industries were worth $15,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MLR. Sanctuary Advisors LLC acquired a new position in Miller Industries in the 3rd quarter valued at $195,000. Barclays PLC boosted its holdings in Miller Industries by 115.6% during the third quarter. Barclays PLC now owns 28,131 shares of the auto parts company’s stock valued at $1,717,000 after acquiring an additional 15,082 shares during the period. State Street Corp grew its position in shares of Miller Industries by 4.3% in the third quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock valued at $14,081,000 after purchasing an additional 9,482 shares during the last quarter. Systematic Financial Management LP increased its stake in shares of Miller Industries by 2.0% in the third quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock worth $24,105,000 after purchasing an additional 7,586 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Miller Industries during the 3rd quarter worth about $1,093,000. Institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Performance

NYSE MLR opened at $67.04 on Friday. The company’s fifty day moving average is $69.53 and its two-hundred day moving average is $63.08. The firm has a market capitalization of $766.87 million, a price-to-earnings ratio of 11.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. Miller Industries, Inc. has a 52-week low of $38.33 and a 52-week high of $78.25.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The firm had revenue of $314.27 million for the quarter. During the same quarter in the prior year, the firm earned $1.52 EPS. Equities research analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.13%. Miller Industries’s dividend payout ratio is currently 12.60%.

Analysts Set New Price Targets

A number of analysts have issued reports on MLR shares. DA Davidson reaffirmed a “buy” rating and issued a $82.00 target price on shares of Miller Industries in a report on Friday, November 15th. StockNews.com cut Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

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.