Miller Industries (NYSE:MLR) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Miller Industries (NYSE:MLR) announced its earnings results on Wednesday. The auto parts company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.25, Zacks reports. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%.The business had revenue of $178.67 million for the quarter, compared to analyst estimates of $177.55 million. Miller Industries updated its FY 2025 guidance to EPS.

Miller Industries Stock Performance

NYSE:MLR traded down $1.45 during trading hours on Thursday, reaching $38.90. The stock had a trading volume of 73,209 shares, compared to its average volume of 100,574. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.19 and a current ratio of 3.32. The stock has a market cap of $445.72 million, a P/E ratio of 10.63 and a beta of 1.24. Miller Industries has a 12-month low of $33.81 and a 12-month high of $78.25. The stock has a 50 day simple moving average of $40.31 and a 200 day simple moving average of $42.57.

Miller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, December 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $0.80 annualized dividend and a yield of 2.1%. Miller Industries’s dividend payout ratio is presently 21.86%.

Hedge Funds Weigh In On Miller Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in Miller Industries by 66.5% in the second quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock worth $37,000 after purchasing an additional 329 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Miller Industries during the second quarter valued at $125,000. Strs Ohio bought a new position in Miller Industries in the first quarter valued at about $182,000. Brevan Howard Capital Management LP purchased a new position in Miller Industries during the second quarter valued at $245,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Miller Industries by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock valued at $281,000 after purchasing an additional 312 shares during the period. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Wall Street Analysts Forecast Growth

MLR has been the topic of a number of recent analyst reports. Zacks Research raised Miller Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Miller Industries in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.00.

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.