Allspring Global Investments Holdings LLC Buys 24,427 Shares of Miller Industries, Inc. (NYSE:MLR)

Allspring Global Investments Holdings LLC boosted its position in shares of Miller Industries, Inc. (NYSE:MLR) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,271 shares of the auto parts company’s stock after purchasing an additional 24,427 shares during the period. Allspring Global Investments Holdings LLC owned about 1.56% of Miller Industries worth $11,652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Narwhal Capital Management increased its stake in Miller Industries by 31.2% in the 3rd quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock valued at $6,928,000 after buying an additional 26,983 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Miller Industries by 125.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,480 shares of the auto parts company’s stock valued at $1,310,000 after acquiring an additional 11,945 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Miller Industries in the third quarter valued at about $496,000. Summit Global Investments bought a new stake in Miller Industries during the third quarter worth about $611,000. Finally, Royce & Associates LP boosted its position in Miller Industries by 12.9% during the third quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock valued at $30,288,000 after purchasing an additional 56,578 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Analysts Set New Price Targets

MLR has been the topic of a number of analyst reports. DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of Miller Industries in a research note on Friday, November 15th. StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Miller Industries Price Performance

Shares of NYSE MLR opened at $62.78 on Tuesday. Miller Industries, Inc. has a twelve month low of $42.22 and a twelve month high of $78.25. The company has a market cap of $718.13 million, a PE ratio of 10.41 and a beta of 0.97. The business’s 50 day moving average price is $66.82 and its two-hundred day moving average price is $65.16. 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 Company 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.