Miller Industries (NYSE:MLR) Downgraded to “Buy” at StockNews.com

StockNews.com cut shares of Miller Industries (NYSE:MLR) from a strong-buy rating to a buy rating in a research note published on Friday morning.

Miller Industries Stock Up 2.5 %

MLR stock opened at $57.00 on Friday. Miller Industries has a twelve month low of $34.96 and a twelve month high of $61.87. The company has a quick ratio of 1.36, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $653.79 million, a P/E ratio of 9.95 and a beta of 0.97. The business’s 50-day moving average price is $57.26 and its 200-day moving average price is $49.51.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, May 8th. The auto parts company reported $1.47 earnings per share (EPS) for the quarter. The company had revenue of $349.87 million for the quarter. Miller Industries had a return on equity of 19.46% and a net margin of 5.41%.

Miller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Monday, June 3rd. Miller Industries’s dividend payout ratio (DPR) is presently 13.26%.

Institutional Trading of Miller Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Miller Industries by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 546,369 shares of the auto parts company’s stock worth $21,423,000 after acquiring an additional 6,937 shares during the last quarter. North Star Investment Management Corp. increased its stake in Miller Industries by 1.0% in the 4th quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company’s stock worth $2,168,000 after acquiring an additional 500 shares during the last quarter. SG Americas Securities LLC increased its stake in Miller Industries by 21.9% in the 4th quarter. SG Americas Securities LLC now owns 5,846 shares of the auto parts company’s stock worth $247,000 after acquiring an additional 1,050 shares during the last quarter. Ellsworth Advisors LLC increased its stake in Miller Industries by 3.3% in the 4th quarter. Ellsworth Advisors LLC now owns 10,205 shares of the auto parts company’s stock worth $432,000 after acquiring an additional 327 shares during the last quarter. Finally, Blue Trust Inc. bought a new stake in Miller Industries in the 4th quarter worth approximately $86,000. Institutional investors own 79.24% of the company’s stock.

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.