Miller Industries (NYSE:MLR) Trading Up 8.7%

Miller Industries, Inc. (NYSE:MLR)’s stock price was up 8.7% during mid-day trading on Thursday . The company traded as high as $60.14 and last traded at $59.99. Approximately 38,057 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 56,449 shares. The stock had previously closed at $55.21.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th.

Miller Industries Trading Up 4.9 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.37 and a current ratio of 2.17. The company has a 50 day moving average price of $49.60 and a two-hundred day moving average price of $43.65. The firm has a market capitalization of $664.11 million, a price-to-earnings ratio of 11.53 and a beta of 1.03.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. The business had revenue of $296.25 million during the quarter. Miller Industries had a net margin of 5.05% and a return on equity of 17.97%.

Miller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were given a dividend of $0.19 per share. This is a boost from Miller Industries’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.31%. Miller Industries’s payout ratio is presently 14.99%.

Institutional Investors Weigh In On Miller Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AJOVista LLC acquired a new stake in shares of Miller Industries during the fourth quarter worth about $69,000. Tower Research Capital LLC TRC boosted its position in Miller Industries by 52.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,868 shares of the auto parts company’s stock valued at $79,000 after buying an additional 639 shares during the period. Blue Trust Inc. acquired a new position in shares of Miller Industries in the fourth quarter worth $86,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Miller Industries during the fourth quarter worth $107,000. Finally, Hillsdale Investment Management Inc. raised its stake in shares of Miller Industries by 11.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 3,800 shares of the auto parts company’s stock valued at $161,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Company Profile

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.