Redmont Wealth Advisors LLC Acquires 1,033 Shares of Miller Industries, Inc. (NYSE:MLR)

Redmont Wealth Advisors LLC lifted its holdings in Miller Industries, Inc. (NYSE:MLR) by 6.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,209 shares of the auto parts company’s stock after acquiring an additional 1,033 shares during the period. Miller Industries makes up approximately 1.1% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 29th largest position. Redmont Wealth Advisors LLC’s holdings in Miller Industries were worth $728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Rockefeller Capital Management L.P. increased its stake in shares of Miller Industries by 107.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,444 shares of the auto parts company’s stock valued at $38,000 after purchasing an additional 749 shares during the last quarter. UBS Group AG boosted its position in Miller Industries by 63.1% in the third quarter. UBS Group AG now owns 2,076 shares of the auto parts company’s stock valued at $44,000 after buying an additional 803 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Miller Industries by 69.2% in the first quarter. Tower Research Capital LLC TRC now owns 1,338 shares of the auto parts company’s stock valued at $47,000 after buying an additional 547 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Miller Industries during the fourth quarter worth $86,000. Finally, BNP Paribas Arbitrage SNC lifted its stake in shares of Miller Industries by 83.4% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 5,488 shares of the auto parts company’s stock valued at $117,000 after acquiring an additional 2,496 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Trading Down 0.2 %

MLR traded down $0.11 during trading on Friday, reaching $48.88. 24,636 shares of the company’s stock were exchanged, compared to its average volume of 55,735. The firm has a fifty day moving average price of $47.48 and a two-hundred day moving average price of $42.43. The stock has a market capitalization of $559.68 million, a PE ratio of 9.66 and a beta of 1.04. Miller Industries, Inc. has a one year low of $32.13 and a one year high of $53.82. The company has a current ratio of 2.17, a quick ratio of 1.37 and a debt-to-equity ratio of 0.17.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. The business had revenue of $296.25 million during the quarter. Miller Industries had a return on equity of 17.97% and a net margin of 5.05%.

Miller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from Miller Industries’s previous quarterly dividend of $0.18. Miller Industries’s dividend payout ratio is currently 14.99%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 7th.

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.