KLP Kapitalforvaltning AS Makes New Investment in Miller Industries, Inc. (NYSE:MLR)

KLP Kapitalforvaltning AS bought a new position in shares of Miller Industries, Inc. (NYSE:MLR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,100 shares of the auto parts company’s stock, valued at approximately $137,000.

A number of other large investors have also recently made changes to their positions in the stock. Royce & Associates LP lifted its holdings in Miller Industries by 29.8% during the 4th quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company’s stock valued at $42,132,000 after buying an additional 148,079 shares in the last quarter. State Street Corp boosted its holdings in shares of Miller Industries by 4.3% in the third quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock valued at $14,081,000 after purchasing an additional 9,482 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Miller Industries by 15.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company’s stock worth $11,652,000 after purchasing an additional 24,427 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Miller Industries by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 93,542 shares of the auto parts company’s stock worth $6,114,000 after purchasing an additional 587 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Miller Industries by 58.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 36,963 shares of the auto parts company’s stock valued at $2,255,000 after purchasing an additional 13,679 shares in the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Price Performance

Shares of MLR stock opened at $41.69 on Thursday. Miller Industries, Inc. has a twelve month low of $37.40 and a twelve month high of $78.25. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $51.67 and a two-hundred day simple moving average of $61.94. The stock has a market capitalization of $476.83 million, a price-to-earnings ratio of 6.91 and a beta of 1.14.

Miller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a $0.20 dividend. The ex-dividend date was Monday, March 17th. This is a positive change from Miller Industries’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.92%. Miller Industries’s dividend payout ratio is 14.57%.

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.