Hillsdale Investment Management Inc. Increases Stock Position in Miller Industries, Inc. (NYSE:MLR)

Hillsdale Investment Management Inc. boosted its stake in Miller Industries, Inc. (NYSE:MLR) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,800 shares of the auto parts company’s stock after acquiring an additional 400 shares during the period. Hillsdale Investment Management Inc.’s holdings in Miller Industries were worth $161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jump Financial LLC purchased a new stake in Miller Industries in the fourth quarter valued at $292,000. AJOVista LLC purchased a new stake in shares of Miller Industries in the fourth quarter valued at about $69,000. Watershed Asset Management L.L.C. purchased a new stake in shares of Miller Industries in the fourth quarter valued at about $297,000. Redmont Wealth Advisors LLC raised its holdings in shares of Miller Industries by 6.4% in the fourth quarter. Redmont Wealth Advisors LLC now owns 17,209 shares of the auto parts company’s stock valued at $728,000 after buying an additional 1,033 shares during the last quarter. Finally, Blue Trust Inc. purchased a new stake in shares of Miller Industries in the fourth quarter valued at about $86,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

Miller Industries Price Performance

Shares of NYSE:MLR opened at $59.05 on Wednesday. The company has a 50-day simple moving average of $51.62 and a 200-day simple moving average of $44.98. Miller Industries, Inc. has a one year low of $32.48 and a one year high of $60.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 2.03. The stock has a market capitalization of $677.30 million, a price-to-earnings ratio of 10.31 and a beta of 1.03.

Miller Industries (NYSE:MLR) last issued its quarterly earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. Miller Industries had a net margin of 5.41% and a return on equity of 19.46%. The business had revenue of $296.25 million for the quarter.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.29%. Miller Industries’s dividend payout ratio (DPR) is 13.26%.

Analyst Upgrades and Downgrades

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 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.