Vanguard Group Inc. Lowers Stake in Miller Industries, Inc. (NYSE:MLR)

Vanguard Group Inc. trimmed its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 670,739 shares of the auto parts company's stock after selling 44,806 shares during the quarter. Vanguard Group Inc. owned about 5.86% of Miller Industries worth $43,840,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Miller Industries in the 3rd quarter valued at about $945,000. Verition Fund Management LLC raised its position in Miller Industries by 3.5% during the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company's stock valued at $352,000 after acquiring an additional 194 shares in the last quarter. Janus Henderson Group PLC raised its position in Miller Industries by 49.9% during the third quarter. Janus Henderson Group PLC now owns 15,504 shares of the auto parts company's stock valued at $945,000 after acquiring an additional 5,160 shares in the last quarter. State Street Corp lifted its holdings in Miller Industries by 4.3% in the third quarter. State Street Corp now owns 230,828 shares of the auto parts company's stock valued at $14,081,000 after acquiring an additional 9,482 shares during the period. Finally, Barclays PLC boosted its position in Miller Industries by 115.6% in the 3rd quarter. Barclays PLC now owns 28,131 shares of the auto parts company's stock worth $1,717,000 after purchasing an additional 15,082 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company's stock.

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Miller Industries Price Performance

Shares of Miller Industries stock traded up $0.07 during trading hours on Tuesday, reaching $40.72. The stock had a trading volume of 72,131 shares, compared to its average volume of 96,558. The stock's 50 day moving average is $50.21 and its 200 day moving average is $61.54. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a twelve month low of $37.40 and a twelve month high of $78.25. The firm has a market capitalization of $465.80 million, a PE ratio of 6.75 and a beta of 1.14.

Miller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.96%. This is a positive change from Miller Industries's previous quarterly dividend of $0.19. Miller Industries's dividend payout ratio (DPR) is presently 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.