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Royce & Associates LP Purchases 148,079 Shares of Miller Industries, Inc. (NYSE:MLR)

Miller Industries logo with Auto/Tires/Trucks background
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Royce & Associates LP raised its stake in Miller Industries, Inc. (NYSE:MLR - Free Report) by 29.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,607 shares of the auto parts company's stock after buying an additional 148,079 shares during the period. Royce & Associates LP owned 5.63% of Miller Industries worth $42,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. R Squared Ltd bought a new position in Miller Industries in the fourth quarter valued at about $36,000. Sanctuary Advisors LLC bought a new position in Miller Industries in the 3rd quarter valued at approximately $195,000. Raymond James Financial Inc. acquired a new stake in Miller Industries during the 4th quarter worth approximately $217,000. Yorktown Management & Research Co Inc bought a new stake in Miller Industries during the 4th quarter worth approximately $307,000. Finally, SG Americas Securities LLC increased its position in Miller Industries by 5.2% in the 4th quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company's stock valued at $354,000 after acquiring an additional 270 shares during the period. Institutional investors own 79.24% of the company's stock.

Miller Industries Trading Down 1.6 %

Shares of MLR stock traded down $0.73 during trading hours on Wednesday, hitting $43.76. 19,725 shares of the company's stock traded hands, compared to its average volume of 87,787. 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, Inc. has a 12 month low of $41.38 and a 12 month high of $78.25. The stock has a market cap of $500.52 million, a PE ratio of 7.30 and a beta of 0.96. The stock's 50 day simple moving average is $60.55 and its 200 day simple moving average is $64.09.

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Miller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.20 per share. 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 annualized dividend and a yield of 1.83%. Miller Industries's payout ratio is presently 14.57%.

About Miller Industries

(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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Institutional Ownership by Quarter for Miller Industries (NYSE:MLR)

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