Steward Partners Investment Advisory LLC Trims Position in Miller Industries, Inc. (NYSE:MLR)

Steward Partners Investment Advisory LLC lessened its position in shares of Miller Industries, Inc. (NYSE:MLR) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,484 shares of the auto parts company’s stock after selling 1,000 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Miller Industries were worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Verition Fund Management LLC increased its position in Miller Industries by 3.5% during the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock valued at $352,000 after acquiring an additional 194 shares during the last quarter. SG Americas Securities LLC grew its holdings in Miller Industries by 5.2% during the fourth quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company’s stock valued at $354,000 after purchasing an additional 270 shares during the period. Redmont Wealth Advisors LLC grew its holdings in Miller Industries by 2.3% during the fourth quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company’s stock valued at $810,000 after purchasing an additional 282 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Miller Industries by 1.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 21,775 shares of the auto parts company’s stock valued at $1,423,000 after purchasing an additional 295 shares during the period. Finally, Ellsworth Advisors LLC grew its holdings in Miller Industries by 4.2% during the fourth quarter. Ellsworth Advisors LLC now owns 12,334 shares of the auto parts company’s stock valued at $806,000 after purchasing an additional 492 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “buy” rating and set a $82.00 price target on shares of Miller Industries in a report on Friday, November 15th.

Miller Industries Stock Performance

NYSE:MLR opened at $43.88 on Friday. The stock has a 50-day simple moving average of $61.85 and a two-hundred day simple moving average of $64.40. Miller Industries, Inc. has a 52-week low of $41.38 and a 52-week high of $78.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The firm has a market capitalization of $501.95 million, a PE ratio of 7.28 and a beta of 0.96.

Miller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a $0.20 dividend. This is a positive change from Miller Industries’s previous quarterly dividend of $0.19. The ex-dividend date is Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.82%. Miller Industries’s dividend payout ratio is 14.57%.

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.