Bank of New York Mellon Corp Reduces Holdings in Miller Industries, Inc. (NYSE:MLR)

Bank of New York Mellon Corp trimmed its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,812 shares of the auto parts company’s stock after selling 7,254 shares during the quarter. Bank of New York Mellon Corp’s holdings in Miller Industries were worth $5,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Miller Industries by 115.6% in the third quarter. Barclays PLC now owns 28,131 shares of the auto parts company’s stock valued at $1,717,000 after acquiring an additional 15,082 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 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 worth $11,652,000 after acquiring an additional 24,427 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Miller Industries in the third quarter valued at approximately $496,000. Sanctuary Advisors LLC purchased a new stake in Miller Industries in the third quarter valued at approximately $195,000. Finally, Systematic Financial Management LP boosted its position in Miller Industries by 2.0% in the third quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock valued at $24,105,000 after buying an additional 7,586 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Price Performance

Shares of NYSE MLR opened at $44.79 on Monday. The business’s 50 day moving average price is $61.41 and its 200 day moving average price is $64.32. The firm has a market cap of $512.30 million, a P/E ratio of 7.43 and a beta of 0.96. Miller Industries, Inc. has a 52 week low of $41.38 and a 52 week high of $78.25. 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 17th. This is an increase from Miller Industries’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 1.79%. 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.