Miller Industries (NYSE:MLR) Earns “Buy” Rating from DA Davidson

DA Davidson reissued their buy rating on shares of Miller Industries (NYSE:MLR) in a report published on Friday morning,Benzinga reports. DA Davidson currently has 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

Shares of NYSE MLR opened at $67.25 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $63.98 and its 200 day moving average price is $60.78. Miller Industries has a 52 week low of $38.33 and a 52 week high of $78.25. The stock has a market cap of $769.34 million, a price-to-earnings ratio of 10.97 and a beta of 0.94.

Miller Industries (NYSE:MLR) last released its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, meeting the consensus estimate of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The business had revenue of $314.27 million for the quarter. During the same quarter in the prior year, the company earned $1.52 earnings per share. As a group, research analysts forecast that Miller Industries will post 5.68 earnings per share for the current fiscal year.

Miller Industries Announces Dividend

The firm also recently announced 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 of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.13%. Miller Industries’s payout ratio is currently 12.60%.

Institutional Trading of Miller Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings 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 acquiring an additional 71,231 shares during the period. Royce & Associates LP raised its stake in Miller Industries by 12.9% during the third quarter. Royce & Associates LP now owns 496,528 shares of the auto parts company’s stock worth $30,288,000 after purchasing an additional 56,578 shares during the period. Systematic Financial Management LP boosted its holdings in shares of Miller Industries by 2.0% in 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 purchasing an additional 7,586 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of 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 valued at $22,435,000 after buying an additional 37,480 shares during the period. Finally, State Street Corp increased its holdings in shares of Miller Industries by 4.3% during the 3rd quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock worth $14,081,000 after buying 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.