Miller Industries, Inc. to Issue Quarterly Dividend of $0.21 (NYSE:MLR)

Miller Industries, Inc. (NYSE:MLR) announced a quarterly dividend on Monday, May 4th. Stockholders of record on Monday, June 1st will be paid a dividend of 0.21 per share by the auto parts company on Monday, June 8th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st.

Miller Industries has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 2 years. Miller Industries has a dividend payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Miller Industries to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 28.2%.

Miller Industries Trading Down 1.7%

Shares of NYSE:MLR opened at $47.99 on Friday. The firm has a market cap of $547.07 million, a price-to-earnings ratio of 35.81 and a beta of 1.13. Miller Industries has a 12 month low of $33.81 and a 12 month high of $49.89. The company’s fifty day simple moving average is $46.85 and its 200 day simple moving average is $42.72. The company has a quick ratio of 1.78, a current ratio of 2.98 and a debt-to-equity ratio of 0.05.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Miller Industries had a return on equity of 3.70% and a net margin of 2.08%.The firm had revenue of $180.86 million for the quarter, compared to the consensus estimate of $181.10 million. As a group, research analysts forecast that Miller Industries will post 1.9 EPS for the current fiscal year.

About Miller Industries

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.