Allspring Global Investments Holdings LLC Sells 6,010 Shares of Miller Industries, Inc. (NYSE:MLR)

Allspring Global Investments Holdings LLC decreased its position in Miller Industries, Inc. (NYSE:MLR) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,769 shares of the auto parts company’s stock after selling 6,010 shares during the period. Allspring Global Investments Holdings LLC owned 1.12% of Miller Industries worth $5,403,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in shares of Miller Industries during the fourth quarter valued at approximately $86,000. Ellsworth Advisors LLC grew its stake in Miller Industries by 3.3% in the 4th quarter. Ellsworth Advisors LLC now owns 10,205 shares of the auto parts company’s stock valued at $432,000 after purchasing an additional 327 shares during the period. SG Americas Securities LLC increased its position in shares of Miller Industries by 21.9% during the 4th quarter. SG Americas Securities LLC now owns 5,846 shares of the auto parts company’s stock valued at $247,000 after purchasing an additional 1,050 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of Miller Industries by 1.0% during the 4th quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company’s stock worth $2,168,000 after purchasing an additional 500 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Miller Industries by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 546,369 shares of the auto parts company’s stock worth $21,423,000 after buying an additional 6,937 shares during the last quarter. Institutional investors own 79.24% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 7th.

Miller Industries Trading Down 0.6 %

NYSE:MLR opened at $49.00 on Friday. Miller Industries, Inc. has a 12 month low of $32.13 and a 12 month high of $53.82. The company has a current ratio of 2.17, a quick ratio of 1.37 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $47.48 and its 200 day moving average is $42.43. The stock has a market capitalization of $561.05 million, a PE ratio of 9.66 and a beta of 1.04.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. Miller Industries had a return on equity of 17.97% and a net margin of 5.05%. The firm had revenue of $296.25 million for the quarter.

Miller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, March 15th. This is an increase from Miller Industries’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 1.55%. Miller Industries’s dividend payout ratio is 14.99%.

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.