Allspring Global Investments Holdings LLC Lowers Holdings in Miller Industries, Inc. (NYSE:MLR)

Allspring Global Investments Holdings LLC reduced its stake in Miller Industries, Inc. (NYSE:MLR) by 4.5% during the fourth quarter, HoldingsChannel reports. The fund owned 127,769 shares of the auto parts company’s stock after selling 6,010 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Miller Industries were worth $5,403,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. bought a new position in Miller Industries in the 4th quarter worth about $86,000. Ellsworth Advisors LLC raised its holdings in Miller Industries by 3.3% in the fourth quarter. Ellsworth Advisors LLC now owns 10,205 shares of the auto parts company’s stock worth $432,000 after buying an additional 327 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Miller Industries by 21.9% in the fourth quarter. SG Americas Securities LLC now owns 5,846 shares of the auto parts company’s stock worth $247,000 after buying an additional 1,050 shares in the last quarter. North Star Investment Management Corp. grew its holdings in shares of Miller Industries by 1.0% during the fourth quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company’s stock valued at $2,168,000 after buying an additional 500 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Miller Industries by 1.3% during the third quarter. Vanguard Group Inc. now owns 546,369 shares of the auto parts company’s stock valued at $21,423,000 after acquiring an additional 6,937 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 7th.

Miller Industries Trading Down 0.6 %

Shares of NYSE:MLR opened at $49.00 on Friday. Miller Industries, Inc. has a 1 year low of $32.13 and a 1 year high of $53.82. The stock’s fifty day moving average price is $47.48 and its 200-day moving average price is $42.43. The company has a market cap of $561.05 million, a P/E ratio of 9.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.17 and a quick ratio of 1.37.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. Miller Industries had a net margin of 5.05% and a return on equity of 17.97%. The firm had revenue of $296.25 million for the quarter.

Miller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, March 15th. This is an increase from Miller Industries’s previous quarterly dividend of $0.18. Miller Industries’s payout ratio is 14.99%.

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.