Allspring Global Investments Holdings LLC Trims Position in Miller Industries, Inc. $MLR

Allspring Global Investments Holdings LLC lessened its stake in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 101,903 shares of the auto parts company's stock after selling 10,612 shares during the period. Allspring Global Investments Holdings LLC owned 0.89% of Miller Industries worth $4,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MLR. IFP Advisors Inc raised its holdings in Miller Industries by 98.0% in the 1st quarter. IFP Advisors Inc now owns 608 shares of the auto parts company's stock valued at $26,000 after buying an additional 301 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Miller Industries by 1,842.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,709 shares of the auto parts company's stock valued at $76,000 after buying an additional 1,621 shares during the period. AlphaQuest LLC raised its holdings in Miller Industries by 230.3% in the 1st quarter. AlphaQuest LLC now owns 1,985 shares of the auto parts company's stock valued at $84,000 after buying an additional 1,384 shares during the period. GAMMA Investing LLC raised its holdings in Miller Industries by 1,894.1% in the 1st quarter. GAMMA Investing LLC now owns 3,051 shares of the auto parts company's stock valued at $129,000 after buying an additional 2,898 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Miller Industries in the 1st quarter valued at about $140,000. Hedge funds and other institutional investors own 79.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Miller Industries in a report on Wednesday, October 8th. DA Davidson reduced their price objective on shares of Miller Industries from $66.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Finally, Zacks Research upgraded shares of Miller Industries from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $64.00.

Miller Industries Stock Performance

Shares of Miller Industries stock opened at $40.89 on Tuesday. Miller Industries, Inc. has a one year low of $33.81 and a one year high of $78.25. The company has a market cap of $468.52 million, a PE ratio of 11.17 and a beta of 1.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.19 and a current ratio of 3.32. The business has a 50-day simple moving average of $41.08 and a 200-day simple moving average of $42.57.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The auto parts company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.18. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%.The business had revenue of $214.03 million during the quarter, compared to the consensus estimate of $234.95 million. On average, equities research analysts forecast that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. Miller Industries's payout ratio is currently 21.86%.

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.

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