Miller Industries, Inc. (NYSE:MLR) Declares $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) declared a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Investors of record on Monday, September 8th will be paid 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 of this dividend is Monday, September 8th.

Miller Industries has a payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

NYSE MLR traded up $1.18 during trading hours on Monday, reaching $40.93. The company's stock had a trading volume of 137,029 shares, compared to its average volume of 117,420. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.19 and a current ratio of 3.32. Miller Industries has a fifty-two week low of $33.81 and a fifty-two week high of $78.25. The stock has a market cap of $469.05 million, a PE ratio of 11.18 and a beta of 1.25. The company's 50-day moving average is $43.80 and its two-hundred day moving average is $47.23.

Miller Industries (NYSE:MLR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.18. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. The company had revenue of $214.03 million for the quarter, compared to analyst estimates of $234.95 million. Analysts forecast that Miller Industries will post 5.68 EPS for the current year.

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.