Miller Industries, Inc. (NYSE:MLR) Declares $0.20 Quarterly Dividend

Miller Industries, Inc. (NYSE:MLR) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Tuesday, December 2nd will be given a dividend of 0.20 per share by the auto parts company on Tuesday, December 9th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 2nd.

Miller Industries has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Miller Industries has a payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Miller Industries to earn $5.94 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 13.5%.

Miller Industries Stock Up 2.6%

Miller Industries stock opened at $40.34 on Thursday. The company has a market cap of $462.17 million, a P/E ratio of 11.02 and a beta of 1.24. Miller Industries has a 1-year low of $33.81 and a 1-year high of $78.25. The company has a fifty day simple moving average of $40.31 and a 200 day simple moving average of $42.57. The company has a current ratio of 3.32, a quick ratio of 2.19 and a debt-to-equity ratio of 0.13.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, November 5th. The auto parts company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.25. The business had revenue of $178.67 million for the quarter, compared to the consensus estimate of $177.55 million. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. Miller Industries has set its FY 2025 guidance at EPS. Research analysts anticipate that Miller Industries will post 5.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MLR has been the topic of a number of analyst reports. Zacks Research upgraded Miller Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Miller Industries in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Miller Industries presently has a consensus rating of “Hold” and an average target price of $64.00.

About Miller Industries

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.