Diamond Hill Capital Management Inc. decreased its position in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,767 shares of the auto parts company's stock after selling 10,596 shares during the period. Diamond Hill Capital Management Inc. owned 0.50% of Miller Industries worth $3,776,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Miller Industries in the 4th quarter valued at approximately $36,000. Sanctuary Advisors LLC purchased a new position in shares of Miller Industries in the 3rd quarter valued at approximately $195,000. Raymond James Financial Inc. purchased a new position in shares of Miller Industries in the 4th quarter valued at approximately $217,000. Yorktown Management & Research Co Inc purchased a new position in shares of Miller Industries in the 4th quarter valued at approximately $307,000. Finally, Verition Fund Management LLC grew its stake in shares of Miller Industries by 3.5% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 79.24% of the company's stock.
Miller Industries Stock Performance
Shares of MLR stock traded up $0.01 during midday trading on Wednesday, hitting $44.50. The company had a trading volume of 129,697 shares, compared to its average volume of 88,204. The company's 50 day simple moving average is $60.55 and its 200 day simple moving average is $64.09. Miller Industries, Inc. has a 52-week low of $41.38 and a 52-week high of $78.25. The stock has a market cap of $508.98 million, a price-to-earnings ratio of 7.38 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 Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 17th. This is an increase from Miller Industries's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.80%. Miller Industries's payout ratio is 14.57%.
Miller Industries Profile
(
Free Report)
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.
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