Miller Industries’ (MLR) “Buy” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Miller Industries (NYSE:MLR) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $82.00 price objective on the auto parts company’s stock. DA Davidson also issued estimates for Miller Industries’ Q4 2024 earnings at $1.09 EPS, FY2024 earnings at $5.68 EPS and FY2025 earnings at $5.94 EPS.

Separately, StockNews.com downgraded Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Miller Industries Stock Down 1.9 %

Shares of NYSE MLR opened at $66.16 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.12 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $63.98 and a 200 day moving average price of $60.70. Miller Industries has a 52 week low of $38.33 and a 52 week high of $78.25. The stock has a market capitalization of $756.87 million, a price-to-earnings ratio of 10.97 and a beta of 0.94.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, hitting the consensus estimate of $1.33. The business had revenue of $314.27 million for the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same period last year, the firm earned $1.52 EPS. Equities research analysts anticipate that Miller Industries will post 5.68 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.15%. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

Institutional Trading of Miller Industries

Several institutional investors have recently made changes to their positions in MLR. Barclays PLC lifted its stake in shares of Miller Industries by 115.6% in the 3rd quarter. Barclays PLC now owns 28,131 shares of the auto parts company’s stock valued at $1,717,000 after purchasing an additional 15,082 shares in the last quarter. State Street Corp lifted its holdings in Miller Industries by 4.3% in the 3rd quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock worth $14,081,000 after buying an additional 9,482 shares in the last quarter. Systematic Financial Management LP grew its stake in Miller Industries by 2.0% during the 3rd quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock valued at $24,105,000 after purchasing an additional 7,586 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Miller Industries in the 3rd quarter valued at about $1,093,000. Finally, Janus Henderson Group PLC lifted its holdings in Miller Industries by 49.9% during the 3rd quarter. Janus Henderson Group PLC now owns 15,504 shares of the auto parts company’s stock worth $945,000 after buying an additional 5,160 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

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.