Raymond James Financial Services Advisors Inc. Has $371,000 Position in Miller Industries, Inc. (NYSE:MLR)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of Miller Industries, Inc. (NYSE:MLR) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,781 shares of the auto parts company’s stock after selling 449 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Miller Industries were worth $371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Miller Industries by 21.9% during the fourth quarter. SG Americas Securities LLC now owns 5,846 shares of the auto parts company’s stock worth $247,000 after purchasing an additional 1,050 shares during the period. North Star Investment Management Corp. lifted its holdings in Miller Industries by 1.0% during the 4th quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company’s stock worth $2,168,000 after buying an additional 500 shares during the period. Vanguard Group Inc. grew its position in shares of Miller Industries by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 546,369 shares of the auto parts company’s stock valued at $21,423,000 after buying an additional 6,937 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Miller Industries by 11.9% in the third quarter. American Century Companies Inc. now owns 28,871 shares of the auto parts company’s stock valued at $1,132,000 after buying an additional 3,073 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Miller Industries by 40.5% during the third quarter. Deutsche Bank AG now owns 5,456 shares of the auto parts company’s stock worth $214,000 after acquiring an additional 1,574 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Stock Up 0.4 %

Shares of NYSE:MLR opened at $49.19 on Monday. Miller Industries, Inc. has a 1 year low of $32.13 and a 1 year high of $53.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.17 and a quick ratio of 1.37. The business’s 50-day moving average is $47.59 and its 200-day moving average is $42.54. The company has a market capitalization of $563.23 million, a price-to-earnings ratio of 9.70 and a beta of 1.04.

Miller Industries (NYSE:MLR) last issued 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 return on equity of 17.97% and a net margin of 5.05%. The firm had revenue of $296.25 million for the quarter.

Miller Industries Increases Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 7th.

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.