AdvisorShares Investments LLC Has $6.92 Million Position in Miller Industries, Inc. (NYSE:MLR)

AdvisorShares Investments LLC trimmed its position in Miller Industries, Inc. (NYSE:MLR - Free Report) by 23.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,802 shares of the auto parts company's stock after selling 33,309 shares during the period. Miller Industries makes up about 1.3% of AdvisorShares Investments LLC's portfolio, making the stock its 28th largest holding. AdvisorShares Investments LLC owned 0.92% of Miller Industries worth $6,915,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MLR. Royce & Associates LP boosted its stake in Miller Industries by 29.8% during the fourth quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company's stock valued at $42,132,000 after buying an additional 148,079 shares in the last quarter. Franklin Resources Inc. grew its position in Miller Industries by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 248,555 shares of the auto parts company's stock worth $16,246,000 after buying an additional 1,511 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Miller Industries by 15.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company's stock valued at $11,652,000 after buying an additional 24,427 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in shares of Miller Industries during the 4th quarter valued at $9,366,000. Finally, Northern Trust Corp boosted its holdings in shares of Miller Industries by 5.6% in the fourth quarter. Northern Trust Corp now owns 111,202 shares of the auto parts company's stock worth $7,268,000 after buying an additional 5,921 shares during the period. 79.24% of the stock is owned by institutional investors.

Miller Industries Stock Up 2.0 %

MLR stock traded up $0.84 during midday trading on Friday, reaching $42.41. The company had a trading volume of 66,514 shares, compared to its average volume of 97,777. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $485.96 million, a P/E ratio of 7.03 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 company has a 50 day moving average of $44.12 and a two-hundred day moving average of $59.48.

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 issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 17th. This is a positive change from Miller Industries's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.89%. Miller Industries's payout ratio is 14.57%.

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.