Miller Industries (NYSE:MLR) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Miller Industries (NYSE:MLR) from a hold rating to a buy rating in a research report released on Monday.

Separately, DA Davidson assumed coverage on Miller Industries in a research report on Wednesday, October 2nd. They set a “buy” rating and a $82.00 target price on the stock.

Miller Industries Price Performance

Shares of NYSE MLR opened at $67.39 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44. The company has a market cap of $771.89 million, a PE ratio of 10.83 and a beta of 0.96. The stock has a fifty day moving average price of $61.34 and a 200 day moving average price of $58.86. Miller Industries has a 1-year low of $35.82 and a 1-year high of $69.75.

Miller Industries (NYSE:MLR) last released its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 EPS for the quarter. Miller Industries had a net margin of 5.55% and a return on equity of 20.16%. The company had revenue of $371.45 million during the quarter. Sell-side analysts forecast that Miller Industries will post 5.6 EPS for the current year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.19 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.13%. Miller Industries’s dividend payout ratio is presently 12.22%.

Institutional Trading of Miller Industries

Institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its position in shares of Miller Industries by 125.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,480 shares of the auto parts company’s stock valued at $1,310,000 after acquiring an additional 11,945 shares during the period. Narwhal Capital Management raised its holdings in Miller Industries by 31.2% during the third quarter. Narwhal Capital Management now owns 113,568 shares of the auto parts company’s stock worth $6,928,000 after purchasing an additional 26,983 shares during the last quarter. Ellsworth Advisors LLC raised its holdings in Miller Industries by 3.6% during the third quarter. Ellsworth Advisors LLC now owns 11,842 shares of the auto parts company’s stock worth $722,000 after purchasing an additional 411 shares during the last quarter. Lakewood Asset Management LLC purchased a new stake in Miller Industries during the third quarter worth $250,000. Finally, SG Americas Securities LLC grew its holdings in Miller Industries by 84.8% in the third quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock valued at $314,000 after purchasing an additional 2,364 shares during the last quarter. Hedge funds and other institutional investors 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.