Thrivent Financial for Lutherans Sells 252,880 Shares of Miller Industries, Inc. (NYSE:MLR)

Thrivent Financial for Lutherans trimmed its holdings in Miller Industries, Inc. (NYSE:MLR) by 23.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 823,081 shares of the auto parts company’s stock after selling 252,880 shares during the period. Thrivent Financial for Lutherans owned about 7.18% of Miller Industries worth $45,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of MLR. Narwhal Capital Management bought a new position in shares of Miller Industries during the 1st quarter valued at about $3,670,000. Hillsdale Investment Management Inc. increased its stake in Miller Industries by 1,404.6% during the 1st quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock worth $2,864,000 after purchasing an additional 53,373 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Miller Industries by 19.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 152,762 shares of the auto parts company’s stock worth $7,653,000 after purchasing an additional 24,993 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Miller Industries during the 1st quarter worth approximately $688,000. Finally, AdvisorShares Investments LLC increased its stake in Miller Industries by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock worth $7,426,000 after purchasing an additional 9,384 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors.

Miller Industries Price Performance

NYSE MLR opened at $61.50 on Monday. The business has a 50 day simple moving average of $61.04 and a 200 day simple moving average of $56.37. Miller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $69.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. The stock has a market cap of $705.41 million, a price-to-earnings ratio of 10.73 and a beta of 0.96.

Miller Industries (NYSE:MLR) last posted its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share (EPS) for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. The business had revenue of $371.45 million during the quarter.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Monday, September 9th. Miller Industries’s dividend payout ratio (DPR) is currently 13.26%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Miller Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 12th.

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.