Miller Industries, Inc. (NYSE:MLR) Announces $0.20 Quarterly Dividend

Key Points

• Miller Industries, Inc. has announced a quarterly dividend of $0.20 per share, with the ex-dividend date set for September 8th and payment expected on September 15th.
• The company's recent earnings report showed an EPS of $0.73, beating estimates of $0.55, although revenues of $214.03 million fell short of analyst expectations of $234.95 million.
• Miller Industries' stock has decreased by 4.5%, trading at $39.65, with a market capitalization of $454.43 million and a price-to-earnings ratio of 8.42.

Miller Industries, Inc. (NYSE:MLR - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Monday, September 8th will be given a dividend of 0.20 per share by the auto parts company on Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, September 8th.

Miller Industries has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Miller Industries to earn $5.94 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 13.5%.

Miller Industries Stock Down 4.5%

MLR traded down $1.89 on Thursday, reaching $39.65. The company's stock had a trading volume of 634,820 shares, compared to its average volume of 100,032. The stock has a market cap of $454.43 million, a price-to-earnings ratio of 8.42 and a beta of 1.25. The business's 50 day moving average is $44.11 and its 200 day moving average is $48.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.23 and a quick ratio of 2.16. Miller Industries has a 1 year low of $33.81 and a 1 year high of $78.25.

Miller Industries (NYSE:MLR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The auto parts company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.55 by $0.18. The company had revenue of $214.03 million during the quarter, compared to analyst estimates of $234.95 million. Miller Industries had a return on equity of 13.78% and a net margin of 4.81%. As a group, research analysts forecast that Miller Industries will post 5.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Miller Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Miller Industries by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,312 shares of the auto parts company's stock valued at $413,000 after acquiring an additional 225 shares during the period. US Bancorp DE boosted its holdings in Miller Industries by 1.9% in the second quarter. US Bancorp DE now owns 12,705 shares of the auto parts company's stock valued at $565,000 after acquiring an additional 237 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Miller Industries by 5.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,955 shares of the auto parts company's stock worth $326,000 after purchasing an additional 260 shares during the last quarter. IFP Advisors Inc boosted its stake in Miller Industries by 98.0% in the first quarter. IFP Advisors Inc now owns 608 shares of the auto parts company's stock valued at $26,000 after acquiring an additional 301 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Miller Industries by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 9,194 shares of the auto parts company's stock valued at $390,000 after acquiring an additional 307 shares during the last quarter. Institutional investors own 79.24% of the company's stock.

About Miller Industries

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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