Nuveen Asset Management LLC Sells 18,935 Shares of Miller Industries, Inc. (NYSE:MLR)

Nuveen Asset Management LLC lowered its stake in shares of Miller Industries, Inc. (NYSE:MLR) by 34.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,522 shares of the auto parts company’s stock after selling 18,935 shares during the quarter. Nuveen Asset Management LLC owned 0.32% of Miller Industries worth $2,387,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in Miller Industries by 15.9% during the fourth 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 in the last quarter. Jane Street Group LLC lifted its position in Miller Industries by 23.8% in the 4th quarter. Jane Street Group LLC now owns 8,003 shares of the auto parts company’s stock worth $523,000 after buying an additional 1,539 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Miller Industries by 58.6% in the fourth quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company’s stock worth $3,830,000 after buying an additional 21,643 shares in the last quarter. Stifel Financial Corp purchased a new stake in Miller Industries in the fourth quarter worth approximately $495,000. Finally, Principal Financial Group Inc. grew its position in Miller Industries by 9.3% during the fourth quarter. Principal Financial Group Inc. now owns 8,887 shares of the auto parts company’s stock valued at $581,000 after acquiring an additional 757 shares during the last quarter. 79.24% of the stock is owned by institutional investors.

Miller Industries Trading Down 0.9%

MLR stock opened at $44.91 on Tuesday. The company has a market capitalization of $514.62 million, a PE ratio of 7.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. Miller Industries, Inc. has a one year low of $37.40 and a one year high of $78.25. The company’s 50 day moving average price is $42.78 and its two-hundred day moving average price is $56.03.

Miller Industries (NYSE:MLR) last issued its 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. The company had revenue of $225.65 million for the quarter, compared to analysts’ expectations of $224.35 million. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. As a group, analysts predict that Miller Industries, Inc. will post 5.68 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Monday, June 2nd will be given a $0.20 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.78%. Miller Industries’s payout ratio is currently 16.99%.

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.