DA Davidson Reiterates Buy Rating for Miller Industries (NYSE:MLR)

DA Davidson reissued their buy rating on shares of Miller Industries (NYSE:MLR) in a research report released on Friday,Benzinga reports. They currently have a $82.00 price target on the auto parts company’s stock. DA Davidson also issued estimates for Miller Industries’ Q4 2024 earnings at $1.09 EPS, FY2024 earnings at $5.68 EPS and FY2025 earnings at $5.94 EPS.

Separately, StockNews.com downgraded Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday.

Miller Industries Price Performance

Shares of MLR traded down $1.25 during mid-day trading on Friday, hitting $66.16. The company’s stock had a trading volume of 112,942 shares, compared to its average volume of 76,300. The firm has a 50-day simple moving average of $63.98 and a 200 day simple moving average of $60.61. Miller Industries has a 1-year low of $38.33 and a 1-year high of $78.25. The firm has a market capitalization of $756.80 million, a P/E ratio of 10.97 and a beta of 0.94. The company has a current ratio of 2.12, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, meeting the consensus estimate of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The firm had revenue of $314.27 million during the quarter. During the same quarter last year, the business earned $1.52 EPS. Analysts predict that Miller Industries will post 5.6 EPS for the current fiscal year.

Miller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.15%. Miller Industries’s dividend payout ratio is currently 12.60%.

Institutional Trading of Miller Industries

A number of hedge funds have recently bought and sold shares of MLR. Verition Fund Management LLC increased its stake in shares of Miller Industries by 3.5% during the 3rd quarter. Verition Fund Management LLC now owns 5,773 shares of the auto parts company’s stock valued at $352,000 after acquiring an additional 194 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Miller Industries by 2.5% during the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock worth $452,000 after purchasing an additional 201 shares during the period. Ellsworth Advisors LLC boosted its holdings in shares of Miller Industries by 3.6% in the 3rd quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company’s stock valued at $722,000 after purchasing an additional 411 shares during the last quarter. Point72 DIFC Ltd increased its holdings in shares of Miller Industries by 146.9% during the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after buying an additional 595 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Miller Industries in the 2nd quarter worth $39,000. Institutional investors and hedge funds 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.