Miller Industries (NYSE:MLR) Reaches New 1-Year High – Should You Buy?

Miller Industries, Inc. (NYSE:MLR)’s stock price reached a new 52-week high on Thursday . The company traded as high as $49.90 and last traded at $49.8570, with a volume of 31436 shares changing hands. The stock had previously closed at $48.67.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a research report on Friday, March 27th. Loop Capital set a $44.00 price objective on Miller Industries in a report on Monday, March 9th. Zacks Research downgraded Miller Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Finally, DA Davidson upped their target price on Miller Industries from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

Miller Industries Stock Performance

The company has a market cap of $570.83 million, a PE ratio of 37.38 and a beta of 1.11. The stock’s 50 day simple moving average is $47.71 and its two-hundred day simple moving average is $43.74. The company has a quick ratio of 1.78, a current ratio of 2.98 and a debt-to-equity ratio of 0.05.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $180.86 million for the quarter, compared to analysts’ expectations of $181.10 million. Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. As a group, research analysts anticipate that Miller Industries, Inc. will post 1.9 earnings per share for the current year.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. Miller Industries’s dividend payout ratio (DPR) is 62.69%.

Institutional Trading of Miller Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. IFP Advisors Inc grew its stake in Miller Industries by 200.0% during the fourth quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock worth $34,000 after buying an additional 604 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Miller Industries by 66.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after acquiring an additional 329 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Miller Industries by 736.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 1,001 shares during the period. Raymond James Financial Inc. acquired a new stake in Miller Industries in the 2nd quarter valued at $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Miller Industries in the third quarter valued at about $159,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.