Noteworthy Price Action: Miller Industries, Inc. Sets 52-Week High; Strong Momentum for Holders

Noteworthy Price Action: Miller Industries, Inc. Sets 52 Week High; Strong Momentum for Holders

The stock of Miller Industries, Inc. (NYSE:MLR) hit a new 52-week high and has $26.78 target or 3.00% above today’s $26.00 share price. The 7 months bullish chart indicates low risk for the $295.55M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $26.78 price target is reached, the company will be worth $8.87 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 23,859 shares traded hands. Miller Industries, Inc. (NYSE:MLR) has risen 21.51% since April 25, 2016 and is uptrending. It has outperformed by 15.50% the S&P500.

Analysts await Miller Industries, Inc. (NYSE:MLR) to report earnings on March, 8.

According to Zacks Investment Research, “Miller Industries, Inc. is a leading integrated provider of vehicle towing and recovery equipment and services. The Company’s business is divided into two segments: (i) manufacturing and distributing towing and recovery equipment and providing financial and related services to the towing and recovery industry and (ii) providing towing and specialized transportation services. The Company markets its towing and recovery equipment under several well-recognized brand names and markets its towing services under the national brand name of RoadOne(R).”

Insitutional Activity: The institutional sentiment increased to 1.44 in 2016 Q2. Its up 0.44, from 1 in 2016Q1. The ratio improved, as 9 funds sold all Miller Industries, Inc. shares owned while 25 reduced positions. 10 funds bought stakes while 24 increased positions. They now own 9.61 million shares or 0.18% less from 9.63 million shares in 2016Q1.
Olstein Mgmt Limited Partnership reported 104,270 shares or 0.29% of all its holdings. Rhumbline Advisers holds 13,597 shares or 0% of its portfolio. The New Jersey-based Blackrock Invest Ltd has invested 0% in Miller Industries, Inc. (NYSE:MLR). Nationwide Fund Advsrs holds 0% or 11,189 shares in its portfolio. Fuller And Thaler Asset holds 0% or 1,900 shares in its portfolio. Rothschild Investment Il holds 0.19% or 72,365 shares in its portfolio. California State Teachers Retirement System holds 23,098 shares or 0% of its portfolio. The California-based Hotchkis & Wiley Mgmt Ltd Limited Liability Company has invested 0.12% in Miller Industries, Inc. (NYSE:MLR). Tiaa Cref Invest Mngmt Limited Com, a New York-based fund reported 33,506 shares. Moreover, Legal General Public Ltd has 0% invested in Miller Industries, Inc. (NYSE:MLR) for 1,971 shares. Ny State Common Retirement Fund last reported 0% of its portfolio in the stock. Gsa Cap Prtn Ltd Liability Partnership holds 0.02% of its portfolio in Miller Industries, Inc. (NYSE:MLR) for 20,094 shares. Metropolitan Life Ins Co Ny last reported 8,461 shares in the company. California Public Employees Retirement holds 47,400 shares or 0% of its portfolio. Thomson Horstmann & Bryant has 1.06% invested in the company for 398,097 shares.

More news for Miller Industries, Inc. (NYSE:MLR) were recently published by: Prnewswire.com, which released: “Miller Industries Reports 2016 Third Quarter Results” on November 09, 2016. Prnewswire.com‘s article titled: “Miller Industries Reports 2016 Second Quarter Results” and published on August 03, 2016 is yet another important article.

MLR Company Profile

Miller Industries, Inc., incorporated on April 28, 1994, is a maker of towing and recovery equipment. The Firm makes the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. The Firm purchases truck chassis for resale its customers. The Firm also makes vehicle transport trailers. The Company’s products are sold through independent distributors that serve approximately 50 states, Canada and Mexico, and other foreign markets, including Europe, the Pacific Rim, the Middle East, South America and Africa, and through prime contractors to governmental entities. The Company’s products are offered under various brands, including Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige and Boniface.

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