Wells Fargo & Company MN grew its holdings in shares of Miller Industries, Inc. (NYSE:MLR) by 24.1% during the second quarter, Holdings Channel.com reports. The firm owned 282,179 shares of the auto parts company’s stock after buying an additional 54,880 shares during the quarter. Wells Fargo & Company MN’s holdings in Miller Industries were worth $8,677,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. CNA Financial Corp grew its holdings in Miller Industries by 19.3% during the first quarter. CNA Financial Corp now owns 10,527 shares of the auto parts company’s stock worth $325,000 after acquiring an additional 1,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Miller Industries during the first quarter worth about $218,000. Alambic Investment Management L.P. grew its holdings in Miller Industries by 2.6% during the first quarter. Alambic Investment Management L.P. now owns 16,870 shares of the auto parts company’s stock worth $520,000 after acquiring an additional 429 shares during the period. Advisory Services Network LLC acquired a new position in Miller Industries during the second quarter worth about $30,000. Finally, SG Americas Securities LLC acquired a new position in Miller Industries during the second quarter worth about $135,000. 87.11% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MLR traded up $0.48 during mid-day trading on Friday, reaching $34.47. 760 shares of the stock were exchanged, compared to its average volume of 27,543. The business has a fifty day moving average price of $31.45 and a 200 day moving average price of $31.36. The firm has a market capitalization of $369.82 million, a PE ratio of 9.51 and a beta of 1.01. Miller Industries, Inc. has a 1-year low of $22.80 and a 1-year high of $35.26. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.09%.
In related news, Director Theodore H. Ashford III sold 8,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $32.22, for a total value of $257,760.00. Following the completion of the transaction, the director now owns 13,903 shares in the company, valued at approximately $447,954.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey I. Badgley sold 10,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.53, for a total value of $325,300.00. Following the completion of the transaction, the chief executive officer now owns 2,180 shares of the company’s stock, valued at approximately $70,915.40. The disclosure for this sale can be found here. Insiders sold a total of 31,820 shares of company stock valued at $1,031,245 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.
Separately, ValuEngine lowered Miller Industries from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.
Miller Industries Profile
Miller Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. It 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 that are used to transport new or disabled vehicles and other equipment.
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