Miller Industries, Inc. (NYSE:MLR) Short Interest Update

Miller Industries, Inc. (NYSE:MLR) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 848,900 shares, a drop of 19.2% from the February 28th total of 1,050,000 shares. Currently, 7.8% of the company’s shares are sold short. Based on an average daily trading volume, of 117,900 shares, the short-interest ratio is presently 7.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Verition Fund Management LLC lifted its holdings in Miller Industries by 3.5% in the third quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock valued at $352,000 after buying an additional 194 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Miller Industries by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,312 shares of the auto parts company’s stock valued at $413,000 after acquiring an additional 225 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Miller Industries by 5.5% in the 4th quarter. Hsbc Holdings PLC now owns 4,955 shares of the auto parts company’s stock valued at $326,000 after purchasing an additional 260 shares during the period. SG Americas Securities LLC boosted its position in shares of Miller Industries by 5.2% in the 4th quarter. SG Americas Securities LLC now owns 5,423 shares of the auto parts company’s stock worth $354,000 after purchasing an additional 270 shares during the last quarter. Finally, Redmont Wealth Advisors LLC grew its stake in shares of Miller Industries by 2.3% during the fourth quarter. Redmont Wealth Advisors LLC now owns 12,392 shares of the auto parts company’s stock worth $810,000 after purchasing an additional 282 shares during the period. Institutional investors own 79.24% of the company’s stock.

Miller Industries Trading Down 0.7 %

Shares of MLR stock traded down $0.31 on Wednesday, reaching $42.64. 66,337 shares of the stock were exchanged, compared to its average volume of 94,301. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. Miller Industries has a one year low of $41.38 and a one year high of $78.25. The stock has a market cap of $487.76 million, a PE ratio of 7.07 and a beta of 0.96. The stock has a 50 day moving average price of $56.02 and a 200 day moving average price of $63.07.

Miller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a dividend of $0.20 per share. This is a boost from Miller Industries’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Monday, March 17th. Miller Industries’s payout ratio is currently 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.