Short Interest in Miller Industries, Inc. (NYSE:MLR) Decreases By 19.2%

Miller Industries, Inc. (NYSE:MLR) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 848,900 shares, a decline of 19.2% from the February 28th total of 1,050,000 shares. Approximately 7.8% of the company’s stock are short sold. Based on an average trading volume of 117,900 shares, the days-to-cover ratio is currently 7.2 days.

Institutional Trading of Miller Industries

Several large investors have recently added to or reduced their stakes in the company. Sovereign s Capital Management LLC purchased a new stake in Miller Industries in the fourth quarter valued at approximately $1,132,000. Squarepoint Ops LLC raised its holdings in shares of Miller Industries by 11.8% during the fourth quarter. Squarepoint Ops LLC now owns 21,534 shares of the auto parts company’s stock worth $1,407,000 after purchasing an additional 2,273 shares during the last quarter. Two Sigma Advisers LP lifted its position in Miller Industries by 79.7% during the fourth quarter. Two Sigma Advisers LP now owns 12,400 shares of the auto parts company’s stock valued at $810,000 after purchasing an additional 5,500 shares during the period. Two Sigma Investments LP grew its position in Miller Industries by 186.9% during the 4th quarter. Two Sigma Investments LP now owns 13,340 shares of the auto parts company’s stock worth $872,000 after purchasing an additional 8,691 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Miller Industries by 2.0% during the 4th quarter. Systematic Financial Management LP now owns 403,191 shares of the auto parts company’s stock valued at $26,353,000 after buying an additional 8,032 shares during the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Stock Up 1.5 %

MLR traded up $0.65 during trading on Tuesday, hitting $43.02. The stock had a trading volume of 161,124 shares, compared to its average volume of 94,242. The stock has a 50 day simple moving average of $56.52 and a two-hundred day simple moving average of $63.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. Miller Industries has a twelve month low of $41.38 and a twelve month high of $78.25. The company has a market capitalization of $492.06 million, a PE ratio of 7.13 and a beta of 0.96.

Miller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a $0.20 dividend. 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 yield of 1.86%. Miller Industries’s dividend payout ratio (DPR) is 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.