Millennium Management LLC Decreases Stock Holdings in Miller Industries, Inc. (NYSE:MLR)

Millennium Management LLC decreased its holdings in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 80.1% during the fourth quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MLR. Allspring Global Investments Holdings LLC boosted its position in 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 during the last quarter. Jane Street Group LLC increased its holdings in Miller Industries by 23.8% in 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 holdings in Miller Industries by 58.6% in the 4th quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company's stock worth $3,830,000 after buying an additional 21,643 shares during the period. Ameriprise Financial Inc. increased its holdings 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 worth $1,552,000 after buying an additional 5,421 shares during the period. Finally, Bank of America Corp DE increased its holdings in Miller Industries by 54.9% in the 4th quarter. Bank of America Corp DE now owns 33,756 shares of the auto parts company's stock worth $2,206,000 after buying an additional 11,964 shares during the period. Hedge funds and other institutional investors own 79.24% of the company's stock.

Miller Industries Stock Performance

NYSE:MLR traded up $0.65 during midday trading on Friday, hitting $45.55. The company's stock had a trading volume of 30,031 shares, compared to its average volume of 96,739. Miller Industries, Inc. has a fifty-two week low of $37.40 and a fifty-two week high of $78.25. The firm's 50 day moving average is $42.97 and its 200-day moving average is $55.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. The firm has a market cap of $521.96 million, a P/E ratio of 7.55 and a beta of 1.24.

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

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be issued a $0.20 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.76%. Miller Industries's dividend payout ratio (DPR) is presently 16.99%.

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.