Bank of New York Mellon Corp Sells 7,254 Shares of Miller Industries, Inc. (NYSE:MLR)

Bank of New York Mellon Corp reduced its holdings in Miller Industries, Inc. (NYSE:MLR - Free Report) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,812 shares of the auto parts company's stock after selling 7,254 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Miller Industries worth $5,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MLR. R Squared Ltd acquired a new stake in shares of Miller Industries in the 4th quarter valued at about $36,000. Sanctuary Advisors LLC acquired a new stake in shares of Miller Industries in the third quarter valued at approximately $195,000. Yorktown Management & Research Co Inc bought a new stake in shares of Miller Industries in the fourth quarter worth $307,000. Verition Fund Management LLC grew its position in Miller Industries by 3.5% in the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company's stock valued at $352,000 after purchasing an additional 194 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Miller Industries by 5.2% in the 4th quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company's stock valued at $354,000 after buying an additional 270 shares during the last quarter. 79.24% of the stock is owned by institutional investors.

Miller Industries Stock Up 0.4 %

MLR stock traded up $0.18 during mid-day trading on Wednesday, reaching $44.67. The company had a trading volume of 3,493 shares, compared to its average volume of 87,703. The company has a market capitalization of $511.00 million, a price-to-earnings ratio of 7.41 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 $41.38 and a 52 week high of $78.25. The stock has a 50 day simple moving average of $60.55 and a two-hundred day simple moving average of $64.09.

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Miller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.20 per share. This is an increase from Miller Industries's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.80 annualized dividend and a yield of 1.79%. Miller Industries's dividend payout ratio (DPR) is currently 14.57%.

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.