Miller Industries, Inc. (NYSE:MLR) Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC reduced its position in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 15.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 133,788 shares of the auto parts company's stock after selling 24,669 shares during the quarter. Miller Industries comprises 1.8% of Pacific Ridge Capital Partners LLC's portfolio, making the stock its 10th largest holding. Pacific Ridge Capital Partners LLC owned about 1.17% of Miller Industries worth $7,361,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Miller Industries in the 2nd quarter worth approximately $39,000. Point72 DIFC Ltd increased its holdings in shares of Miller Industries by 146.9% in the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company's stock valued at $55,000 after buying an additional 595 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Miller Industries by 101.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company's stock valued at $91,000 after acquiring an additional 913 shares during the last quarter. Voisard Asset Management Group Inc. bought a new stake in shares of Miller Industries during the 4th quarter worth $107,000. Finally, Quest Partners LLC acquired a new position in shares of Miller Industries in the 2nd quarter worth $200,000. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded Miller Industries from a "strong-buy" rating to a "buy" rating in a report on Friday, July 12th.

Miller Industries Trading Up 0.9 %

MLR stock traded up $0.55 during mid-day trading on Friday, reaching $60.20. 41,910 shares of the stock traded hands, compared to its average volume of 74,609. The stock's fifty day moving average is $60.86 and its 200-day moving average is $56.67. The company has a market cap of $690.49 million, a P/E ratio of 10.51 and a beta of 0.96. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18. Miller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $69.75.

Miller Industries (NYSE:MLR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. The firm had revenue of $371.45 million during the quarter.

Miller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.26%. Miller Industries's dividend payout ratio is 13.26%.

About Miller Industries

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.