Miller Industries (NYSE:MLR) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Miller Industries crossed above its 200-day moving average (200‑day MA $40.80), trading as high as $46.98 and last at $45.75 on volume ~139,900, signaling a technical breakout.
• Analysts are mixed — one Buy, one Hold and one Sell — giving a consensus rating of "Hold" with a $48.50 average price target (DA Davidson raised its target to $53 while Zacks cut to "strong sell").
• The company posted an earnings beat (Q EPS $0.29 vs $0.03 estimate) with revenue topping expectations, has a $520M market cap and recently raised its quarterly dividend to $0.21 (1.8% yield).

Shares of Miller Industries, Inc. (NYSE:MLR - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $40.80 and traded as high as $46.98. Miller Industries shares last traded at $45.75, with a volume of 139,897 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Miller Industries in a report on Friday, March 27th. Loop Capital set a $44.00 price objective on shares of Miller Industries in a report on Monday, March 9th. DA Davidson upped their price objective on shares of Miller Industries from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Finally, Zacks Research lowered shares of Miller Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $48.50.

Miller Industries Stock Performance

The company has a market capitalization of $520.18 million, a price-to-earnings ratio of 23.11 and a beta of 1.13. The company has a current ratio of 3.22, a quick ratio of 1.87 and a debt-to-equity ratio of 0.07. The stock's fifty day simple moving average is $43.93 and its 200-day simple moving average is $40.80.

Miller Industries (NYSE:MLR - Get Free Report) last released its earnings results on Wednesday, March 4th. The auto parts company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.26. The company had revenue of $171.92 million for the quarter, compared to analyst estimates of $164.20 million. Miller Industries had a net margin of 2.92% and a return on equity of 5.52%. Analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 16th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.8%. This is a boost from Miller Industries's previous quarterly dividend of $0.20. Miller Industries's payout ratio is currently 42.42%.

Institutional Investors Weigh In On Miller Industries

Large investors have recently modified their holdings of the company. Citigroup Inc. increased its position in shares of Miller Industries by 219.6% in the 3rd quarter. Citigroup Inc. now owns 63,227 shares of the auto parts company's stock valued at $2,556,000 after purchasing an additional 43,444 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in shares of Miller Industries by 24.3% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 121,261 shares of the auto parts company's stock valued at $4,901,000 after purchasing an additional 23,683 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Miller Industries in the 3rd quarter valued at $1,598,000. RBF Capital LLC purchased a new position in shares of Miller Industries in the 2nd quarter valued at $1,272,000. Finally, CW Advisors LLC grew its position in shares of Miller Industries by 228.0% in the 2nd quarter. CW Advisors LLC now owns 23,125 shares of the auto parts company's stock valued at $1,028,000 after buying an additional 16,075 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

About Miller Industries

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company's product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.

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