Redmont Wealth Advisors LLC Has $728,000 Position in Miller Industries, Inc. (NYSE:MLR)

Redmont Wealth Advisors LLC increased its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,209 shares of the auto parts company’s stock after purchasing an additional 1,033 shares during the period. Miller Industries makes up 1.1% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 29th biggest position. Redmont Wealth Advisors LLC owned approximately 0.15% of Miller Industries worth $728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. bought a new stake in Miller Industries in the 4th quarter valued at $86,000. Ellsworth Advisors LLC raised its stake in shares of Miller Industries by 3.3% in the 4th quarter. Ellsworth Advisors LLC now owns 10,205 shares of the auto parts company’s stock valued at $432,000 after purchasing an additional 327 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Miller Industries by 21.9% in the fourth quarter. SG Americas Securities LLC now owns 5,846 shares of the auto parts company’s stock valued at $247,000 after purchasing an additional 1,050 shares in the last quarter. North Star Investment Management Corp. boosted its position in shares of Miller Industries by 1.0% during the fourth quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company’s stock worth $2,168,000 after buying an additional 500 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Miller Industries by 1.3% during the third quarter. Vanguard Group Inc. now owns 546,369 shares of the auto parts company’s stock worth $21,423,000 after buying an additional 6,937 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Miller Industries Stock Performance

MLR stock traded down $0.11 during mid-day trading on Friday, hitting $48.88. 24,636 shares of the company were exchanged, compared to its average volume of 55,735. Miller Industries, Inc. has a 1-year low of $32.13 and a 1-year high of $53.82. The business has a 50 day simple moving average of $47.48 and a 200-day simple moving average of $42.43. The company has a current ratio of 2.17, a quick ratio of 1.37 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $559.68 million, a PE ratio of 9.66 and a beta of 1.04.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share for the quarter. The firm 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 disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 18th were given a dividend of $0.19 per share. The ex-dividend date was Friday, March 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Miller Industries’s previous quarterly dividend of $0.18. Miller Industries’s payout ratio is currently 14.99%.

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.