Miller Industries, Inc. (NYSE:MLR - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $49.53 and traded as high as $55.94. Miller Industries shares last traded at $55.4450, with a volume of 56,218 shares changing hands.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on MLR shares. Weiss Ratings reissued a "hold (c)" rating on shares of Miller Industries in a research report on Wednesday, June 24th. Zacks Research upgraded Miller Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, July 10th. Wall Street Zen raised Miller Industries from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, DA Davidson raised their price target on Miller Industries from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Miller Industries has an average rating of "Hold" and an average price target of $54.00.
Get Our Latest Research Report on MLR
Miller Industries Price Performance
The stock's fifty day simple moving average is $53.62 and its 200-day simple moving average is $49.53. The firm has a market cap of $629.30 million, a PE ratio of 44.71 and a beta of 1.12.
Miller Industries (NYSE:MLR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The auto parts company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.27. Miller Industries had a net margin of 1.86% and a return on equity of 3.41%. The firm had revenue of $239.99 million for the quarter, compared to analyst estimates of $210.80 million. Analysts expect that Miller Industries, Inc. will post 1.95 earnings per share for the current year.
Miller Industries Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. Miller Industries's payout ratio is currently 67.74%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of MLR. IFP Advisors Inc lifted its stake in Miller Industries by 200.0% during the 4th quarter. IFP Advisors Inc now owns 906 shares of the auto parts company's stock valued at $34,000 after acquiring an additional 604 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Miller Industries in the first quarter worth $279,000. Public Employees Retirement System of Ohio purchased a new position in shares of Miller Industries during the second quarter worth $351,000. PNC Financial Services Group Inc. raised its holdings in shares of Miller Industries by 6.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,100 shares of the auto parts company's stock worth $452,000 after purchasing an additional 700 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in Miller Industries during the fourth quarter valued at $677,000. 79.24% of the stock is owned by institutional investors and hedge funds.
About Miller Industries
(
Get Free Report)
Miller Industries, Inc is a manufacturer of towing and recovery equipment headquartered in Tennessee. The company designs and produces tow trucks, wreckers, car carriers, transport trailers, and related equipment used to recover, tow, and transport passenger vehicles, commercial trucks, buses, and other heavy-duty vehicles.
Its product portfolio includes light-, medium-, and heavy-duty wreckers; integrated tow trucks; carriers; rotators; and specialized recovery equipment. Miller Industries markets products under brands including Century, Vulcan, Chevron, Holmes, and Champion, and also provides replacement parts and related support services.
Founded in 1990, the company serves towing operators, municipalities, government agencies, transportation companies, equipment rental businesses, and other commercial customers in North America and international markets.
Further Reading
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