Miller Industries, Inc. (NYSE:MLR - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $50.52 and traded as high as $52.92. Miller Industries shares last traded at $52.8150, with a volume of 74,163 shares traded.
Analyst Ratings Changes
A number of equities research analysts have recently commented on MLR shares. DA Davidson raised their target price on Miller Industries from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Zacks Research upgraded Miller Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Miller Industries in a report on Monday, September 21st. Finally, Wall Street Zen raised Miller Industries from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $54.00.
View Our Latest Analysis on Miller Industries
Miller Industries Stock Performance
The company has a 50 day simple moving average of $54.71 and a 200 day simple moving average of $50.52. The company has a market capitalization of $599.45 million, a PE ratio of 42.59 and a beta of 1.12.
Miller Industries (NYSE:MLR - Get Free Report) last released its earnings results on Wednesday, August 5th. The auto parts company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.27. Miller Industries had a return on equity of 3.41% and a net margin of 1.86%.The business had revenue of $239.99 million for the quarter, compared to the consensus estimate of $210.80 million. As a group, equities research analysts anticipate that Miller Industries, Inc. will post 1.95 EPS for the current year.
Miller Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 8th. Miller Industries's payout ratio is 67.74%.
Hedge Funds Weigh In On Miller Industries
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new stake in Miller Industries in the 1st quarter valued at about $279,000. Public Employees Retirement System of Ohio purchased a new position in Miller Industries during the second quarter worth approximately $351,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Miller Industries during the second quarter worth $1,187,000. Quantinno Capital Management LP grew its holdings in Miller Industries by 47.7% in the 1st quarter. Quantinno Capital Management LP now owns 38,616 shares of the auto parts company's stock valued at $1,759,000 after buying an additional 12,463 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Miller Industries by 9.7% in the 1st quarter. Empowered Funds LLC now owns 42,073 shares of the auto parts company's stock worth $1,916,000 after acquiring an additional 3,703 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.
About Miller Industries
(
Get Free Report)
Miller Industries, Inc designs, manufactures and sells towing and recovery equipment for commercial, municipal, transportation and emergency-service customers. Its product portfolio includes light-, medium- and heavy-duty wreckers; car carriers and transporters; rotator recovery units; and specialized equipment used to recover, move and transport disabled or damaged vehicles.
The company markets products under several established brands, including Century, Vulcan, Holmes, Challenger and Champion.
Further Reading
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