Miller Industries (NYSE:MLR) Sees Unusually-High Trading Volume

Miller Industries, Inc. (NYSE:MLR) shares saw an uptick in trading volume on Wednesday . 57,939 shares changed hands during trading, a decline of 22% from the previous session’s volume of 74,427 shares.The stock last traded at $63.60 and had previously closed at $59.86.

Wall Street Analyst Weigh In

MLR has been the topic of a number of analyst reports. StockNews.com lowered Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 12th. DA Davidson started coverage on shares of Miller Industries in a research report on Wednesday. They issued a “buy” rating and a $82.00 price target on the stock.

Miller Industries Stock Performance

The stock has a fifty day simple moving average of $60.67 and a two-hundred day simple moving average of $56.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.08. The stock has a market capitalization of $712.63 million, a price-to-earnings ratio of 11.08 and a beta of 0.96.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. The business had revenue of $371.45 million during the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. Miller Industries’s dividend payout ratio is 13.26%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in Miller Industries during the 2nd quarter worth $39,000. Point72 DIFC Ltd boosted its holdings in Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 595 shares during the last quarter. EntryPoint Capital LLC grew its position in Miller Industries by 101.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock worth $91,000 after purchasing an additional 913 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new stake in Miller Industries in the 4th quarter valued at about $107,000. Finally, Quest Partners LLC bought a new position in shares of Miller Industries during the 2nd quarter worth approximately $200,000. 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.