Miller Industries (NYSE:MLR) Upgraded to Strong-Buy at StockNews.com

Miller Industries (NYSE:MLR) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

Miller Industries Stock Up 0.5 %

NYSE:MLR traded up $0.28 during mid-day trading on Thursday, reaching $54.68. The company’s stock had a trading volume of 35,745 shares, compared to its average volume of 89,588. The company has a quick ratio of 1.36, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. Miller Industries has a 1 year low of $33.83 and a 1 year high of $61.87. The stock has a fifty day moving average of $56.66 and a 200-day moving average of $48.98. The firm has a market capitalization of $627.18 million, a PE ratio of 9.54 and a beta of 0.97.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, May 8th. The auto parts company reported $1.47 earnings per share for the quarter. Miller Industries had a net margin of 5.41% and a return on equity of 19.46%. The firm had revenue of $349.87 million during the quarter.

Institutional Investors Weigh In On Miller Industries

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Miller Industries by 1.3% during the third quarter. Vanguard Group Inc. now owns 546,369 shares of the auto parts company’s stock valued at $21,423,000 after buying an additional 6,937 shares during the last quarter. North Star Investment Management Corp. lifted its position in Miller Industries by 1.0% during the fourth quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company’s stock valued at $2,168,000 after acquiring an additional 500 shares during the last quarter. SG Americas Securities LLC lifted its position in Miller Industries by 21.9% during the fourth quarter. SG Americas Securities LLC now owns 5,846 shares of the auto parts company’s stock valued at $247,000 after acquiring an additional 1,050 shares during the last quarter. Ellsworth Advisors LLC boosted its stake in Miller Industries by 3.3% in the fourth quarter. Ellsworth Advisors LLC now owns 10,205 shares of the auto parts company’s stock valued at $432,000 after acquiring an additional 327 shares in the last quarter. Finally, Blue Trust Inc. purchased a new position in Miller Industries in the fourth quarter worth $86,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

About Miller Industries

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.