Nuveen Asset Management LLC Cuts Stake in Miller Industries, Inc. (NYSE:MLR)

Nuveen Asset Management LLC reduced its holdings in Miller Industries, Inc. (NYSE:MLR - Free Report) by 34.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,522 shares of the auto parts company's stock after selling 18,935 shares during the period. Nuveen Asset Management LLC owned approximately 0.32% of Miller Industries worth $2,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MLR. SG Americas Securities LLC grew its position in Miller Industries by 5.2% in the fourth quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company's stock worth $354,000 after acquiring an additional 270 shares in the last quarter. R Squared Ltd bought a new stake in shares of Miller Industries in the 4th quarter valued at approximately $36,000. Yorktown Management & Research Co Inc purchased a new position in shares of Miller Industries in the 4th quarter worth approximately $307,000. Allspring Global Investments Holdings LLC increased its position 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 valued at $11,652,000 after purchasing an additional 24,427 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Miller Industries by 9.3% during the 4th quarter. Principal Financial Group Inc. now owns 8,887 shares of the auto parts company's stock valued at $581,000 after purchasing an additional 757 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Trading Up 1.4%

MLR traded up $0.65 during trading on Friday, reaching $45.55. The company had a trading volume of 30,031 shares, compared to its average volume of 96,727. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The business has a 50 day simple moving average of $42.97 and a 200-day simple moving average of $55.57. The stock has a market cap of $521.96 million, a P/E ratio of 7.55 and a beta of 1.24. 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 released its quarterly earnings results on Wednesday, May 7th. The auto parts company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.09. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The firm had revenue of $225.65 million during the quarter, compared to analysts' expectations of $224.35 million. On average, equities analysts anticipate that Miller Industries, Inc. will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

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