Connor Clark & Lunn Investment Management Ltd. Sells 1,268 Shares of Miller Industries, Inc. (NYSE:MLR)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 15.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,035 shares of the auto parts company’s stock after selling 1,268 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Miller Industries worth $460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Verition Fund Management LLC raised its position in Miller Industries by 3.5% during the 3rd quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock valued at $352,000 after purchasing an additional 194 shares in the last quarter. SG Americas Securities LLC grew its stake in Miller Industries by 5.2% during the 4th quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company’s stock worth $354,000 after buying an additional 270 shares during the last quarter. Redmont Wealth Advisors LLC lifted its position in Miller Industries by 2.3% during the 4th quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company’s stock worth $810,000 after acquiring an additional 282 shares during the period. Harbor Capital Advisors Inc. lifted its position in Miller Industries by 1.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 21,775 shares of the auto parts company’s stock worth $1,423,000 after acquiring an additional 295 shares during the period. Finally, Ellsworth Advisors LLC lifted its position in Miller Industries by 4.2% during the 4th quarter. Ellsworth Advisors LLC now owns 12,334 shares of the auto parts company’s stock worth $806,000 after acquiring an additional 492 shares during the period. 79.24% of the stock is owned by institutional investors.

Miller Industries Stock Performance

Shares of MLR opened at $42.71 on Friday. The stock has a market cap of $488.50 million, a P/E ratio of 7.08 and a beta of 0.96. The stock has a 50-day moving average of $59.31 and a two-hundred day moving average of $63.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. Miller Industries, Inc. has a one year low of $41.38 and a one year high of $78.25.

Miller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Miller Industries’s previous quarterly dividend of $0.19. Miller Industries’s 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.