Miller Industries, Inc. (NYSE:MLR) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in Miller Industries, Inc. (NYSE:MLR - Free Report) by 80.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,430 shares of the auto parts company's stock after selling 66,041 shares during the period. Millennium Management LLC owned approximately 0.14% of Miller Industries worth $1,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in Miller Industries by 15.9% in the 4th 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 during the period. Jane Street Group LLC increased its stake in Miller Industries by 23.8% during the 4th quarter. Jane Street Group LLC now owns 8,003 shares of the auto parts company's stock worth $523,000 after buying an additional 1,539 shares during the period. JPMorgan Chase & Co. increased its position in shares of Miller Industries by 58.6% during the fourth quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company's stock worth $3,830,000 after acquiring an additional 21,643 shares during the period. Ameriprise Financial Inc. raised its position in Miller Industries by 29.6% in the 4th quarter. Ameriprise Financial Inc. now owns 23,747 shares of the auto parts company's stock valued at $1,552,000 after purchasing an additional 5,421 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in Miller Industries in the fourth quarter worth approximately $495,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Stock Up 1.4%

Shares of MLR stock traded up $0.65 on Friday, reaching $45.55. 30,031 shares of the stock were exchanged, compared to its average volume of 96,487. The business's 50 day moving average price is $42.92 and its 200 day moving average price is $55.73. The company has a market capitalization of $521.96 million, a price-to-earnings ratio of 7.55 and a beta of 1.24. Miller Industries, Inc. has a twelve month low of $37.40 and a twelve month high of $78.25. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.09. The firm had revenue of $225.65 million during the quarter, compared to the consensus estimate of $224.35 million. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. As a group, sell-side analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Monday, June 2nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, June 2nd. Miller Industries's payout ratio is 16.99%.

Miller Industries 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.