Miller Industries (NYSE:MLR) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Miller Industries (NYSE:MLR) from a hold rating to a buy rating in a report released on Monday morning.

Separately, DA Davidson assumed coverage on shares of Miller Industries in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $82.00 price objective on the stock.

Miller Industries Trading Down 2.5 %

MLR opened at $65.65 on Monday. The business has a fifty day moving average price of $61.48 and a 200 day moving average price of $58.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44. Miller Industries has a 12 month low of $35.82 and a 12 month high of $69.75. The stock has a market capitalization of $751.96 million, a price-to-earnings ratio of 10.64 and a beta of 0.96.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 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 during the quarter. Sell-side analysts expect that Miller Industries will post 5.6 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.19 per share. The ex-dividend date was Monday, September 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. Miller Industries’s dividend payout ratio is currently 12.22%.

Institutional Investors Weigh In On Miller Industries

Several hedge funds and other institutional investors have recently made changes to their positions in MLR. Innealta Capital LLC purchased a new position in Miller Industries in the second quarter valued at approximately $39,000. Point72 DIFC Ltd boosted its holdings in shares of Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after buying an additional 595 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of Miller Industries by 101.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after buying an additional 913 shares during the last quarter. Quest Partners LLC acquired a new stake in Miller Industries during the 2nd quarter worth $200,000. Finally, Lakewood Asset Management LLC purchased a new stake in Miller Industries in the third quarter valued at $250,000. 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.