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

Bank of America Corp DE grew its position in shares of Miller Industries, Inc. (NYSE:MLR - Free Report) by 54.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,756 shares of the auto parts company's stock after acquiring an additional 11,964 shares during the period. Bank of America Corp DE owned about 0.30% of Miller Industries worth $2,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Miller Industries by 15.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company's stock worth $11,652,000 after acquiring an additional 24,427 shares during the period. Jane Street Group LLC grew its holdings in shares of 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 acquiring an additional 1,539 shares during the period. JPMorgan Chase & Co. grew its stake in shares of 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 last quarter. Stifel Financial Corp purchased a new stake in shares of Miller Industries in the 4th quarter worth approximately $495,000. Finally, Ameriprise Financial Inc. grew its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 79.24% of the company's stock.

Miller Industries Stock Down 1.4%

Shares of Miller Industries stock traded down $0.62 during midday trading on Wednesday, hitting $44.97. The company had a trading volume of 48,121 shares, compared to its average volume of 96,544. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The stock has a market capitalization of $515.31 million, a P/E ratio of 7.46 and a beta of 1.20. The company has a 50 day moving average of $42.82 and a 200 day moving average of $55.96. Miller Industries, Inc. has a 52-week low of $37.40 and a 52-week high of $78.25.

Miller Industries (NYSE:MLR - Get Free Report) last posted 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. The company had revenue of $225.65 million for 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%. On average, equities analysts predict 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 will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.78%. Miller Industries's payout ratio is currently 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.