Miller Industries, Inc. (NYSE:MLR) Short Interest Down 19.2% in March

Miller Industries, Inc. (NYSE:MLR - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 848,900 shares, a decrease of 19.2% from the February 28th total of 1,050,000 shares. Approximately 7.8% of the company's shares are short sold. Based on an average trading volume of 117,900 shares, the days-to-cover ratio is presently 7.2 days.

Hedge Funds Weigh In On Miller Industries

Several institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC grew its position in shares of Miller Industries by 3.5% during the 3rd quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company's stock worth $352,000 after buying an additional 194 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Miller Industries by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,312 shares of the auto parts company's stock worth $413,000 after purchasing an additional 225 shares during the period. Hsbc Holdings PLC increased its stake in Miller Industries by 5.5% in the fourth quarter. Hsbc Holdings PLC now owns 4,955 shares of the auto parts company's stock valued at $326,000 after purchasing an additional 260 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Miller Industries by 5.2% during the fourth quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company's stock valued at $354,000 after purchasing an additional 270 shares during the period. Finally, Redmont Wealth Advisors LLC raised its holdings in shares of Miller Industries by 2.3% during the fourth quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company's stock valued at $810,000 after purchasing an additional 282 shares during the period. 79.24% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Miller Industries Trading Down 1.8 %

Miller Industries stock traded down $0.71 during trading hours on Friday, reaching $39.72. 191,119 shares of the company's stock were exchanged, compared to its average volume of 95,177. The firm has a market capitalization of $454.37 million, a PE ratio of 6.59 and a beta of 0.96. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The firm's 50 day simple moving average is $54.40 and its 200 day simple moving average is $62.65. Miller Industries has a twelve month low of $38.05 and a twelve month high of $78.25.

Miller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 annualized dividend and a yield of 2.01%. This is a boost from Miller Industries's previous quarterly dividend of $0.19. Miller Industries's dividend payout ratio (DPR) is currently 14.57%.

Miller Industries Company 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.