Miller Industries (NYSE:MLR) Now Covered by Analysts at DA Davidson

DA Davidson began coverage on shares of Miller Industries (NYSE:MLR) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $82.00 price target on the auto parts company’s stock.

Separately, StockNews.com downgraded Miller Industries from a strong-buy rating to a buy rating in a research report on Friday, July 12th.

Miller Industries Trading Up 4.9 %

Shares of MLR stock opened at $62.81 on Wednesday. Miller Industries has a 1 year low of $34.96 and a 1 year high of $69.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44. The stock’s 50 day simple moving average is $60.64 and its two-hundred day simple moving average is $57.01. The company has a market cap of $720.43 million, a PE ratio of 10.96 and a beta of 0.96.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share (EPS) for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. The business had revenue of $371.45 million for the quarter.

Miller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.21%. Miller Industries’s dividend payout ratio is 13.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its stake in shares of Miller Industries by 1.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company’s stock valued at $8,500,000 after buying an additional 1,722 shares during the last quarter. AdvisorShares Investments LLC grew its stake in Miller Industries by 7.4% in the second quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock worth $7,426,000 after purchasing an additional 9,384 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Miller Industries by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 100,538 shares of the auto parts company’s stock worth $5,532,000 after purchasing an additional 1,253 shares in the last quarter. Narwhal Capital Management grew its stake in Miller Industries by 18.2% in the second quarter. Narwhal Capital Management now owns 86,585 shares of the auto parts company’s stock worth $4,764,000 after purchasing an additional 13,323 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Miller Industries by 94.1% in the second quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock worth $3,486,000 after purchasing an additional 30,714 shares in the last quarter. 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.