Miller Industries, Inc. (NYSE:MLR) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in Miller Industries, Inc. (NYSE:MLR) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,370 shares of the auto parts company’s stock after purchasing an additional 4,257 shares during the period. Wells Fargo & Company MN owned 0.23% of Miller Industries worth $1,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLR. Integrated Quantitative Investments LLC purchased a new position in shares of Miller Industries in the 4th quarter valued at $355,000. Franklin Resources Inc. boosted its stake in Miller Industries by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 248,555 shares of the auto parts company’s stock valued at $16,246,000 after acquiring an additional 1,511 shares in the last quarter. Norges Bank purchased a new position in shares of Miller Industries during the fourth quarter worth about $1,850,000. JPMorgan Chase & Co. increased its position in shares of Miller Industries by 58.6% during the fourth quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company’s stock worth $3,830,000 after purchasing an additional 21,643 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Miller Industries in the 4th quarter valued at about $137,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Stock Down 2.0 %

Shares of NYSE MLR opened at $41.39 on Friday. The stock has a market cap of $474.33 million, a PE ratio of 6.86 and a beta of 1.14. Miller Industries, Inc. has a 52-week low of $37.40 and a 52-week high of $78.25. The business has a 50-day moving average price of $45.99 and a 200 day moving average price of $60.22. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16.

Miller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Miller Industries’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. Miller Industries’s payout ratio is presently 14.57%.

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.