Congress Wealth Management LLC DE Decreases Stake in Miller Industries, Inc. (NYSE:MLR)

Congress Wealth Management LLC DE cut its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 71.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,670 shares of the auto parts company’s stock after selling 16,395 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.06% of Miller Industries worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Miller Industries by 18.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,303 shares of the auto parts company’s stock valued at $506,000 after buying an additional 1,297 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Miller Industries by 193.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company’s stock valued at $5,670,000 after acquiring an additional 61,247 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Miller Industries by 188.9% during 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. FMR LLC boosted its holdings in shares of Miller Industries by 10.2% in the third quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after acquiring an additional 71,231 shares during the period. Finally, Quantbot Technologies LP grew its position in shares of Miller Industries by 190.0% in the third quarter. Quantbot Technologies LP now owns 8,679 shares of the auto parts company’s stock valued at $529,000 after purchasing an additional 5,686 shares in the last quarter. Institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Performance

Shares of MLR opened at $42.47 on Friday. Miller Industries, Inc. has a 52-week low of $41.38 and a 52-week high of $78.25. The stock’s 50-day simple moving average is $57.03 and its 200 day simple moving average is $63.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The stock has a market capitalization of $485.81 million, a price-to-earnings ratio of 7.04 and a beta of 0.96.

Miller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Miller Industries’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 17th. Miller Industries’s dividend payout ratio is presently 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.