Allspring Global Investments Holdings LLC Trims Stock Position in Miller Industries, Inc. (NYSE:MLR)

Allspring Global Investments Holdings LLC trimmed its position in Miller Industries, Inc. (NYSE:MLR) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,844 shares of the auto parts company’s stock after selling 640 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Miller Industries were worth $9,384,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Ellsworth Advisors LLC lifted its holdings in Miller Industries by 3.6% in the third quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company’s stock valued at $722,000 after acquiring an additional 411 shares during the last quarter. Lakewood Asset Management LLC acquired a new position in Miller Industries during the third quarter worth $250,000. SG Americas Securities LLC lifted its stake in Miller Industries by 84.8% during the third quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock worth $314,000 after purchasing an additional 2,364 shares in the last quarter. Point72 DIFC Ltd grew its stake in shares of Miller Industries by 146.9% in the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after buying an additional 595 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Miller Industries by 2.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock valued at $452,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analysts Set New Price Targets

MLR has been the topic of a number of recent research reports. DA Davidson assumed coverage on shares of Miller Industries in a research note on Wednesday, October 2nd. They set a “buy” rating and a $82.00 price target on the stock. StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th.

Miller Industries Trading Up 1.4 %

MLR opened at $66.00 on Friday. The business has a fifty day moving average price of $61.02 and a 200 day moving average price of $58.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44. Miller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $69.75. The stock has a market capitalization of $755.70 million, a price-to-earnings ratio of 10.61 and a beta of 0.96.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. The business had revenue of $371.45 million during the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. Sell-side analysts expect that Miller Industries, Inc. will post 5.6 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, September 9th. Miller Industries’s dividend payout ratio is presently 12.22%.

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.