Miller Industries, Inc. (NYSE:MLR – Get Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $54.20 and last traded at $53.68, with a volume of 15053 shares changing hands. The stock had previously closed at $52.97.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th.
Read Our Latest Stock Report on Miller Industries
Miller Industries Stock Up 2.0 %
Miller Industries (NYSE:MLR – Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share for the quarter. The firm had revenue of $296.25 million for the quarter. Miller Industries had a net margin of 5.05% and a return on equity of 17.97%.
Miller Industries Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Friday, March 15th. This is a positive change from Miller Industries’s previous quarterly dividend of $0.18. Miller Industries’s payout ratio is 14.99%.
Institutional Investors Weigh In On Miller Industries
A number of hedge funds and other institutional investors have recently modified their holdings of MLR. SG Americas Securities LLC acquired a new position in shares of Miller Industries in the 3rd quarter worth $188,000. Bank of New York Mellon Corp raised its holdings in Miller Industries by 1.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 107,293 shares of the auto parts company’s stock worth $4,207,000 after buying an additional 1,470 shares during the period. Strs Ohio lifted its stake in Miller Industries by 79.2% during the third quarter. Strs Ohio now owns 4,300 shares of the auto parts company’s stock valued at $168,000 after buying an additional 1,900 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Miller Industries by 41.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 17,215 shares of the auto parts company’s stock worth $675,000 after buying an additional 5,086 shares during the period. Finally, AdvisorShares Investments LLC increased its position in shares of Miller Industries by 6.1% in the third quarter. AdvisorShares Investments LLC now owns 99,480 shares of the auto parts company’s stock worth $3,901,000 after acquiring an additional 5,754 shares in the last quarter. 79.24% of the stock is currently owned by 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.
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