Norges Bank Invests $1.85 Million in Miller Industries, Inc. (NYSE:MLR)

Norges Bank purchased a new stake in Miller Industries, Inc. (NYSE:MLR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 28,300 shares of the auto parts company's stock, valued at approximately $1,850,000. Norges Bank owned approximately 0.25% of Miller Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in MLR. R Squared Ltd acquired a new stake in shares of Miller Industries in the 4th quarter valued at about $36,000. KLP Kapitalforvaltning AS acquired a new stake in Miller Industries in the 4th quarter valued at approximately $137,000. Sanctuary Advisors LLC acquired a new position in Miller Industries during the 3rd quarter worth approximately $195,000. Raymond James Financial Inc. bought a new position in shares of Miller Industries during the 4th quarter worth approximately $217,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Miller Industries in the fourth quarter valued at approximately $307,000. Institutional investors own 79.24% of the company's stock.

Miller Industries Stock Up 0.2 %

MLR traded up $0.07 during trading hours on Tuesday, hitting $40.72. 72,131 shares of the company's stock were exchanged, compared to its average volume of 96,558. The stock has a market cap of $465.80 million, a price-to-earnings ratio of 6.75 and a beta of 1.14. Miller Industries, Inc. has a 1-year low of $37.40 and a 1-year high of $78.25. The stock's 50-day moving average is $50.21 and its two-hundred day moving average is $61.54. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16.

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Miller Industries Increases Dividend

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