Bank of America Corp DE Purchases 11,964 Shares of Miller Industries, Inc. (NYSE:MLR)

Bank of America Corp DE increased its stake in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 54.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 33,756 shares of the auto parts company's stock after buying an additional 11,964 shares during the period. Bank of America Corp DE owned 0.30% of Miller Industries worth $2,206,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of Miller Industries in the fourth quarter valued at approximately $36,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Miller Industries in the fourth quarter valued at approximately $85,000. KLP Kapitalforvaltning AS acquired a new position in Miller Industries during the fourth quarter valued at approximately $137,000. LSV Asset Management acquired a new position in Miller Industries during the fourth quarter valued at approximately $176,000. Finally, Aquatic Capital Management LLC raised its position in Miller Industries by 75.9% during the fourth quarter. Aquatic Capital Management LLC now owns 2,814 shares of the auto parts company's stock valued at $184,000 after purchasing an additional 1,214 shares in the last quarter. Institutional investors own 79.24% of the company's stock.

Miller Industries Price Performance

MLR traded up $0.65 during trading on Friday, hitting $45.55. 30,031 shares of the stock traded hands, compared to its average volume of 96,727. Miller Industries, Inc. has a twelve month low of $37.40 and a twelve month high of $78.25. The company has a market cap of $521.96 million, a price-to-earnings ratio of 7.55 and a beta of 1.24. 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 business has a 50 day moving average price of $42.97 and a 200 day moving average price of $55.57.

Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The auto parts company reported $0.69 EPS for the quarter, beating 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 business had revenue of $225.65 million during the quarter, compared to the consensus estimate of $224.35 million. Equities research analysts forecast that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. 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 is currently 16.99%.

About Miller Industries

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.