DA Davidson Boosts Earnings Estimates for Miller Industries

Miller Industries, Inc. (NYSE:MLR - Free Report) - Equities research analysts at DA Davidson lifted their FY2025 earnings per share (EPS) estimates for Miller Industries in a report released on Monday, May 12th. DA Davidson analyst M. Shlisky now forecasts that the auto parts company will earn $2.95 per share for the year, up from their prior forecast of $2.94. The consensus estimate for Miller Industries' current full-year earnings is $5.68 per share.

Miller Industries Trading Up 0.4%

Shares of NYSE MLR traded up $0.17 during trading hours on Wednesday, hitting $46.54. The company's stock had a trading volume of 7,367 shares, compared to its average volume of 97,115. Miller Industries has a 12 month low of $37.40 and a 12 month high of $78.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The business has a 50-day simple moving average of $42.58 and a 200-day simple moving average of $58.08. The stock has a market cap of $533.24 million, a price-to-earnings ratio of 7.72 and a beta of 1.20.

Miller Industries (NYSE:MLR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The auto parts company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.60 by $0.09. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The company had revenue of $225.65 million for the quarter, compared to the consensus estimate of $224.35 million.

Hedge Funds Weigh In On Miller Industries

A number of institutional investors have recently bought and sold shares of MLR. Caxton Associates LLP purchased a new position in Miller Industries during the 1st quarter valued at about $349,000. Goldman Sachs Group Inc. raised its position in Miller Industries by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company's stock worth $12,160,000 after acquiring an additional 112,925 shares during the period. Millennium Management LLC grew its holdings in Miller Industries by 855.1% during the first quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company's stock valued at $6,649,000 after purchasing an additional 140,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Miller Industries by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company's stock valued at $281,000 after acquiring an additional 312 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Miller Industries by 114.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 16,836 shares of the auto parts company's stock worth $713,000 after purchasing an additional 8,976 shares in the last quarter. 79.24% of the stock is owned by institutional investors.

Miller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Monday, June 2nd. Miller Industries's payout ratio is currently 16.99%.

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.