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

Brandywine Global Investment Management LLC decreased its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 4.0% during the fourth quarter, HoldingsChannel reports. The firm owned 38,650 shares of the auto parts company’s stock after selling 1,599 shares during the period. Brandywine Global Investment Management LLC’s holdings in Miller Industries were worth $2,526,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new position in Miller Industries during the fourth quarter valued at approximately $1,850,000. JPMorgan Chase & Co. boosted its stake in Miller Industries by 58.6% in the fourth quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company’s stock valued at $3,830,000 after acquiring an additional 21,643 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Miller Industries in the fourth quarter valued at approximately $137,000. American Century Companies Inc. grew its holdings in Miller Industries by 6.7% in the fourth quarter. American Century Companies Inc. now owns 25,039 shares of the auto parts company’s stock worth $1,637,000 after purchasing an additional 1,576 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Miller Industries by 29.8% during the fourth quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company’s stock worth $42,132,000 after purchasing an additional 148,079 shares in the last quarter. Institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Up 1.2 %

Miller Industries stock opened at $43.48 on Thursday. Miller Industries, Inc. has a 1-year low of $41.38 and a 1-year high of $78.25. The business has a fifty day moving average price of $55.52 and a 200-day moving average price of $62.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. The stock has a market capitalization of $497.37 million, a price-to-earnings ratio of 7.21 and a beta of 0.96.

Miller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were paid a dividend of $0.20 per share. 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 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.