Pacific Ridge Capital Partners LLC Decreases Position in Miller Industries, Inc. (NYSE:MLR)

Pacific Ridge Capital Partners LLC lowered its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 81,797 shares of the auto parts company's stock after selling 16,056 shares during the quarter. Pacific Ridge Capital Partners LLC owned about 0.72% of Miller Industries worth $5,346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd purchased a new position in Miller Industries during the 4th quarter valued at about $36,000. KLP Kapitalforvaltning AS purchased a new stake in Miller Industries in the 4th quarter worth approximately $137,000. Sanctuary Advisors LLC bought a new position in Miller Industries in the 3rd quarter valued at $195,000. Raymond James Financial Inc. bought a new position in Miller Industries in the 4th quarter valued at $217,000. Finally, Yorktown Management & Research Co Inc purchased a new position in shares of Miller Industries during the 4th quarter valued at $307,000. Institutional investors own 79.24% of the company's stock.

Miller Industries Price Performance

Shares of MLR stock traded down $0.17 on Monday, reaching $42.26. The company's stock had a trading volume of 17,025 shares, compared to its average volume of 93,474. The company has a market capitalization of $483.41 million, a P/E ratio of 7.00 and a beta of 0.96. Miller Industries, Inc. has a 12-month low of $41.38 and a 12-month high of $78.25. The stock's 50 day simple moving average is $57.03 and its 200-day simple moving average is $63.28. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16.

Miller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Miller Industries's previous quarterly dividend of $0.19. Miller Industries's dividend payout ratio (DPR) is 14.57%.

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.