DA Davidson Expects Stronger Earnings for Miller Industries

Miller Industries, Inc. (NYSE:MLR - Free Report) - Equities research analysts at DA Davidson upped their FY2025 earnings per share estimates for Miller Industries in a note issued to investors 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 previous estimate of $2.94. The consensus estimate for Miller Industries' current full-year earnings is $5.68 per share.

Miller Industries Stock Performance

Shares of MLR stock opened at $47.28 on Wednesday. The company has a fifty day moving average price of $42.61 and a two-hundred day moving average price of $58.60. Miller Industries has a one year low of $37.40 and a one year high of $78.25. The stock has a market cap of $541.78 million, a P/E ratio of 7.84 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46.

Miller Industries (NYSE:MLR - Get Free Report) last released its earnings results on Wednesday, May 7th. The auto parts company reported $0.69 earnings per share for the quarter, beating 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 business had revenue of $225.65 million during the quarter, compared to analysts' expectations of $224.35 million.

Hedge Funds Weigh In On Miller Industries

A number of institutional investors have recently bought and sold shares of MLR. Allspring Global Investments Holdings LLC boosted its stake in shares of Miller Industries by 15.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company's stock worth $11,652,000 after acquiring an additional 24,427 shares during the period. JPMorgan Chase & Co. boosted its stake in Miller Industries by 58.6% in the 4th quarter. JPMorgan Chase & Co. now owns 58,606 shares of the auto parts company's stock valued at $3,830,000 after purchasing an additional 21,643 shares during the period. Principal Financial Group Inc. grew its holdings in Miller Industries by 9.3% in the 4th quarter. Principal Financial Group Inc. now owns 8,887 shares of the auto parts company's stock valued at $581,000 after buying an additional 757 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Miller Industries by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 93,542 shares of the auto parts company's stock valued at $6,114,000 after buying an additional 587 shares in the last quarter. Finally, Norges Bank bought a new position in Miller Industries during the 4th quarter worth $1,850,000. Institutional investors and hedge funds own 79.24% of the company's stock.

Miller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be paid a $0.20 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.69%. Miller Industries's dividend payout ratio (DPR) 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.

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