Miller Industries (NYSE:MLR) Issues Quarterly Earnings Results

Miller Industries (NYSE:MLR) issued its quarterly earnings results on Wednesday. The auto parts company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17), FiscalAI reports. Miller Industries had a return on equity of 3.70% and a net margin of 2.08%.The business had revenue of $180.86 million for the quarter, compared to the consensus estimate of $181.10 million.

Miller Industries Stock Performance

Shares of Miller Industries stock traded up $0.53 during trading on Friday, hitting $48.22. 69,682 shares of the stock were exchanged, compared to its average volume of 91,756. The stock has a market capitalization of $549.65 million, a price-to-earnings ratio of 35.98 and a beta of 1.13. The company has a fifty day moving average price of $45.86 and a 200-day moving average price of $41.94. Miller Industries has a 1-year low of $33.81 and a 1-year high of $49.89. The company has a current ratio of 2.98, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 1st. This represents a $0.84 annualized dividend and a dividend yield of 1.7%. Miller Industries’s payout ratio is currently 42.42%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research report on Friday, March 27th. Loop Capital set a $44.00 price target on shares of Miller Industries in a research report on Monday, March 9th. DA Davidson boosted their price target on shares of Miller Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, Zacks Research cut shares of Miller Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Miller Industries presently has an average rating of “Hold” and a consensus price target of $48.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Miller Industries by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock valued at $281,000 after buying an additional 312 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Miller Industries by 66.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after buying an additional 329 shares during the last quarter. Osaic Holdings Inc. grew its stake in Miller Industries by 7.5% in the 4th quarter. Osaic Holdings Inc. now owns 7,977 shares of the auto parts company’s stock valued at $298,000 after buying an additional 556 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Miller Industries by 13.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,637 shares of the auto parts company’s stock valued at $249,000 after buying an additional 768 shares during the last quarter. Finally, Invenomic Capital Management LP grew its stake in Miller Industries by 0.7% in the 4th quarter. Invenomic Capital Management LP now owns 110,707 shares of the auto parts company’s stock valued at $4,137,000 after buying an additional 807 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Miller Industries Company Profile

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.