Miller Industries’ (MLR) “Buy” Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Miller Industries (NYSE:MLR) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $82.00 price objective 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 lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

Miller Industries Price Performance

NYSE:MLR opened at $66.16 on Friday. The stock has a 50 day moving average price of $63.98 and a 200 day moving average price of $60.70. The stock has a market cap of $756.87 million, a PE ratio of 10.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.44 and a current ratio of 2.12. Miller Industries has a one year low of $38.33 and a one year high of $78.25.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting 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 in the previous year, the business posted $1.52 earnings per share. Equities research analysts expect that Miller Industries will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

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

Hedge Funds Weigh In On Miller Industries

Several large investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of Miller Industries by 10.2% during the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after buying an additional 71,231 shares during the last quarter. Royce & Associates LP raised its stake in Miller Industries by 12.9% during the 3rd quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock valued at $30,288,000 after acquiring an additional 56,578 shares during the last quarter. Systematic Financial Management LP raised its stake in Miller Industries by 2.0% during the 3rd quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock valued at $24,105,000 after acquiring an additional 7,586 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Miller Industries by 11.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company’s stock worth $22,435,000 after acquiring an additional 37,480 shares during the period. Finally, State Street Corp grew its stake in shares of Miller Industries by 4.3% in the 3rd quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock valued at $14,081,000 after purchasing an additional 9,482 shares during the last quarter. Hedge funds and other institutional investors 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.