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

Key Points

• Miller Industries shares rose above their 200-day moving average of $50.10, reaching $53.71 before closing near $52.51.
• Analyst sentiment remains mixed but leans neutral: the consensus rating is “Hold” with a $54 price target, although DA Davidson raised its target to $64 and maintained a “Buy” rating.
• The company beat quarterly expectations, reporting $0.63 in earnings per share versus a $0.36 estimate and $239.99 million in revenue versus $210.80 million expected. Miller also pays a $0.21 quarterly dividend, yielding about 1.6%.

Miller Industries, Inc. (NYSE:MLR - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $50.10 and traded as high as $53.71. Miller Industries shares last traded at $52.5070, with a volume of 61,641 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MLR. Weiss Ratings reiterated a "hold (c)" rating on shares of Miller Industries in a research report on Monday, September 21st. DA Davidson upped 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. Wall Street Zen raised Miller Industries from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Finally, Zacks Research raised Miller Industries from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $54.00.

Miller Industries Trading Down 1.8%

The stock has a market capitalization of $595.95 million, a price-to-earnings ratio of 42.34 and a beta of 1.12. The stock's 50 day moving average is $54.38 and its 200 day moving average is $50.10.

Miller Industries (NYSE:MLR - Get Free Report) last posted 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 net margin of 1.86% and a return on equity of 3.41%. The firm had revenue of $239.99 million during the quarter, compared to the consensus estimate of $210.80 million. On average, sell-side analysts anticipate that Miller Industries, Inc. will post 1.95 EPS for the current year.

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, September 8th. Miller Industries's payout ratio is currently 67.74%.

Institutional Investors Weigh In On Miller Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. boosted its stake in shares of Miller Industries by 124.1% during the first quarter. Sei Investments Co. now owns 46,565 shares of the auto parts company's stock valued at $2,121,000 after acquiring an additional 25,785 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Miller Industries in the 2nd quarter valued at about $5,985,000. Heartland Advisors Inc. acquired a new stake in shares of Miller Industries during the 1st quarter worth about $5,466,000. Punch & Associates Investment Management Inc. boosted its stake in shares of Miller Industries by 36.1% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 110,477 shares of the auto parts company's stock worth $5,032,000 after purchasing an additional 29,291 shares during the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Miller Industries during the second quarter worth about $1,187,000. Hedge funds and other institutional investors own 79.24% of the company's stock.

Miller Industries Company Profile

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.

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