Bank of New York Mellon Corp Sells 7,254 Shares of Miller Industries, Inc. (NYSE:MLR)

Bank of New York Mellon Corp cut its stake in Miller Industries, Inc. (NYSE:MLR) by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 owned about 0.73% of Miller Industries worth $5,478,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MLR. FMR LLC grew its position in shares of Miller Industries by 10.2% in the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after buying an additional 71,231 shares during the period. Systematic Financial Management LP lifted its stake in Miller Industries by 2.0% during the 3rd quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock valued at $24,105,000 after acquiring an additional 7,586 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in Miller Industries by 11.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company’s stock valued at $22,435,000 after acquiring an additional 37,480 shares during the period. State Street Corp lifted its stake in Miller Industries by 4.3% during the 3rd quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock valued at $14,081,000 after acquiring an additional 9,482 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Miller Industries by 15.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company’s stock worth $11,652,000 after purchasing an additional 24,427 shares during the period. 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. Miller Industries, Inc. has a twelve month low of $41.38 and a twelve month high of $78.25. The stock has a market capitalization of $512.30 million, a PE ratio of 7.43 and a beta of 0.96. The firm’s 50 day moving average price is $61.41 and its 200-day moving average price is $64.32. 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 company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.20 per share. This is a boost 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 yield of 1.79%. Miller Industries’s dividend payout ratio (DPR) is presently 14.57%.

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.