Miller Industries, Inc. (NYSE:MLR) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. cut its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 15.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,767 shares of the auto parts company’s stock after selling 10,596 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.50% of Miller Industries worth $3,776,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MLR. Principal Financial Group Inc. acquired a new stake in Miller Industries in the 3rd quarter valued at $496,000. Royce & Associates LP grew its position in shares of Miller Industries by 12.9% in the third quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock valued at $30,288,000 after purchasing an additional 56,578 shares during the period. Quest Partners LLC increased its stake in shares of Miller Industries by 127.0% during the third quarter. Quest Partners LLC now owns 8,250 shares of the auto parts company’s stock worth $503,000 after purchasing an additional 4,616 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in shares of Miller Industries by 1.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 66,672 shares of the auto parts company’s stock worth $4,067,000 after purchasing an additional 990 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Miller Industries by 18.5% in 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. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Trading Up 1.7 %

Shares of MLR opened at $44.79 on Friday. The firm’s fifty day moving average is $61.41 and its two-hundred day moving average is $64.28. The stock has a market cap of $512.30 million, a PE ratio of 7.43 and a beta of 0.96. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. Miller Industries, Inc. has a 52-week low of $41.38 and a 52-week high of $78.25.

Miller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, March 17th. This is a boost from Miller Industries’s previous quarterly dividend of $0.19. Miller Industries’s dividend payout ratio is currently 14.57%.

Analysts Set New Price Targets

Separately, DA Davidson reissued a “buy” rating and set a $82.00 target price on shares of Miller Industries in a report on Friday, November 15th.

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.