Miller Industries (NYSE:MLR) Sets New 1-Year High at $54.20

Miller Industries, Inc. (NYSE:MLR - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $54.20 and last traded at $53.68, with a volume of 15053 shares traded. The stock had previously closed at $52.97.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Miller Industries from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 7th.

Miller Industries Stock Performance

The company has a quick ratio of 1.37, a current ratio of 2.17 and a debt-to-equity ratio of 0.17. The business has a 50 day simple moving average of $49.16 and a two-hundred day simple moving average of $43.44. The firm has a market cap of $621.90 million, a PE ratio of 10.69 and a beta of 1.03.

Miller Industries (NYSE:MLR - Get Free Report) last released its earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share for the quarter. Miller Industries had a return on equity of 17.97% and a net margin of 5.05%. The business had revenue of $296.25 million for the quarter.

Miller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, March 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.40%. This is a positive change from Miller Industries's previous quarterly dividend of $0.18. Miller Industries's dividend payout ratio (DPR) is currently 14.99%.

Hedge Funds Weigh In On Miller Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC boosted its holdings in Miller Industries by 6.4% in the fourth quarter. Redmont Wealth Advisors LLC now owns 17,209 shares of the auto parts company's stock worth $728,000 after acquiring an additional 1,033 shares in the last quarter. Blue Trust Inc. acquired a new stake in Miller Industries in the fourth quarter worth about $86,000. North Star Investment Management Corp. boosted its holdings in Miller Industries by 1.0% in the fourth quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company's stock worth $2,168,000 after acquiring an additional 500 shares in the last quarter. Ellsworth Advisors LLC boosted its holdings in Miller Industries by 3.3% in the fourth quarter. Ellsworth Advisors LLC now owns 10,205 shares of the auto parts company's stock worth $432,000 after acquiring an additional 327 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in Miller Industries by 41.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 17,215 shares of the auto parts company's stock worth $675,000 after acquiring an additional 5,086 shares in the last quarter. Hedge funds and other 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.