Allspring Global Investments Holdings LLC Sells 65,756 Shares of Miller Industries, Inc. (NYSE:MLR)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 36.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,515 shares of the auto parts company's stock after selling 65,756 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.98% of Miller Industries worth $4,767,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co bought a new stake in Miller Industries during the fourth quarter valued at approximately $85,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Miller Industries during the 4th quarter valued at $137,000. LSV Asset Management bought a new stake in shares of Miller Industries during the 4th quarter worth $176,000. Aquatic Capital Management LLC grew its position in Miller Industries by 75.9% in the fourth quarter. Aquatic Capital Management LLC now owns 2,814 shares of the auto parts company's stock worth $184,000 after acquiring an additional 1,214 shares in the last quarter. Finally, CX Institutional bought a new position in Miller Industries in the first quarter valued at $120,000. Institutional investors own 79.24% of the company's stock.

Miller Industries Price Performance

MLR traded down $0.12 during midday trading on Wednesday, hitting $45.33. The stock had a trading volume of 35,661 shares, compared to its average volume of 95,165. Miller Industries, Inc. has a 1 year low of $37.40 and a 1 year high of $78.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.16 and a current ratio of 3.23. The business has a fifty day moving average of $44.95 and a 200 day moving average of $51.33. The company has a market cap of $519.48 million, a P/E ratio of 9.62 and a beta of 1.22.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.09. Miller Industries had a net margin of 4.81% and a return on equity of 13.78%. The firm had revenue of $225.65 million during the quarter, compared to analyst estimates of $224.35 million. As a group, equities analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.76%. Miller Industries's payout ratio is 16.99%.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price target on Miller Industries from $66.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, June 26th.

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.