Brandywine Global Investment Management LLC Reduces Holdings in Miller Industries, Inc. (NYSE:MLR)

Brandywine Global Investment Management LLC decreased its position in shares of Miller Industries, Inc. (NYSE:MLR) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,650 shares of the auto parts company’s stock after selling 1,599 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.34% of Miller Industries worth $2,526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MLR. Verition Fund Management LLC boosted its position in shares of Miller Industries by 3.5% during 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. SG Americas Securities LLC grew its position in 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 valued at $354,000 after acquiring an additional 270 shares during the last quarter. Redmont Wealth Advisors LLC lifted its position 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 last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Miller Industries by 1.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 21,775 shares of the auto parts company’s stock valued at $1,423,000 after purchasing an additional 295 shares during the period. Finally, Ellsworth Advisors LLC grew its holdings in shares of Miller Industries by 4.2% in the fourth quarter. Ellsworth Advisors LLC now owns 12,334 shares of the auto parts company’s stock worth $806,000 after purchasing an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Trading Up 1.2 %

Shares of MLR opened at $43.48 on Thursday. The firm has a market capitalization of $497.37 million, a price-to-earnings ratio of 7.21 and a beta of 0.96. 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, Inc. has a 1-year low of $41.38 and a 1-year high of $78.25. The company has a 50-day moving average of $55.52 and a 200 day moving average of $62.93.

Miller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were issued a $0.20 dividend. This is a positive change from Miller Industries’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.84%. Miller Industries’s payout ratio is presently 14.57%.

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.