Miller Industries (NYSE:MLR) Upgraded at Zacks Research

Zacks Research upgraded shares of Miller Industries (NYSE:MLR) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

MLR has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Miller Industries in a research report on Wednesday. DA Davidson cut their price target on Miller Industries from $66.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $64.00.

Miller Industries Price Performance

MLR stock opened at $39.85 on Tuesday. The business has a 50 day moving average price of $41.07 and a 200 day moving average price of $42.67. The stock has a market cap of $456.68 million, a price-to-earnings ratio of 10.89 and a beta of 1.24. Miller Industries has a fifty-two week low of $33.81 and a fifty-two week high of $78.25. The company has a quick ratio of 2.19, a current ratio of 3.32 and a debt-to-equity ratio of 0.13.

Miller Industries (NYSE:MLR) last posted its earnings results on Wednesday, August 6th. The auto parts company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.18. The firm had revenue of $214.03 million during the quarter, compared to analysts’ expectations of $234.95 million. Miller Industries had a return on equity of 10.48% and a net margin of 4.35%. Equities research analysts anticipate that Miller Industries will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, September 8th. Miller Industries’s dividend payout ratio is 21.86%.

Institutional Investors Weigh In On Miller Industries

Several large investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Miller Industries by 24.9% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 443,468 shares of the auto parts company’s stock worth $18,790,000 after purchasing an additional 88,365 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Miller Industries by 0.8% during the second quarter. Systematic Financial Management LP now owns 387,729 shares of the auto parts company’s stock worth $17,238,000 after purchasing an additional 3,111 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Miller Industries by 2.6% during the second quarter. Geode Capital Management LLC now owns 288,809 shares of the auto parts company’s stock worth $12,842,000 after purchasing an additional 7,252 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Miller Industries by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company’s stock worth $12,160,000 after purchasing an additional 112,925 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Miller Industries by 855.1% during the first quarter. Millennium Management LLC now owns 156,930 shares of the auto parts company’s stock worth $6,649,000 after purchasing an additional 140,500 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.