Pacific Ridge Capital Partners LLC Trims Holdings in Miller Industries, Inc. (NYSE:MLR)

Pacific Ridge Capital Partners LLC lessened its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,797 shares of the auto parts company’s stock after selling 16,056 shares during the quarter. Pacific Ridge Capital Partners LLC owned approximately 0.72% of Miller Industries worth $5,346,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Royce & Associates LP grew its position in Miller Industries by 29.8% during the fourth quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company’s stock valued at $42,132,000 after acquiring an additional 148,079 shares during the period. FMR LLC increased its position in Miller Industries by 10.2% during the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after purchasing an additional 71,231 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Miller Industries by 193.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company’s stock valued at $5,670,000 after buying an additional 61,247 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in Miller Industries by 11.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company’s stock worth $22,435,000 after buying an additional 37,480 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Miller Industries by 188.9% in the third quarter. The Manufacturers Life Insurance Company now owns 37,391 shares of the auto parts company’s stock worth $2,281,000 after acquiring an additional 24,449 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Miller Industries Stock Performance

Shares of MLR stock opened at $44.71 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a market cap of $511.39 million, a PE ratio of 7.41 and a beta of 0.96. The company’s fifty day simple moving average is $58.03 and its 200-day simple moving average is $63.44. Miller Industries, Inc. has a 52 week low of $41.38 and a 52 week high of $78.25.

Miller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were given a $0.20 dividend. The ex-dividend date was Monday, March 17th. This is a positive change from Miller Industries’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.79%. Miller Industries’s dividend payout ratio (DPR) 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.