DA Davidson Comments on Miller Industries, Inc.’s Q3 2024 Earnings (NYSE:MLR)

Miller Industries, Inc. (NYSE:MLR) – Analysts at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for Miller Industries in a research report issued to clients and investors on Wednesday, October 2nd. DA Davidson analyst M. Shlisky forecasts that the auto parts company will post earnings per share of $1.33 for the quarter. DA Davidson has a “Buy” rating and a $82.00 price objective on the stock. DA Davidson also issued estimates for Miller Industries’ FY2024 earnings at $5.60 EPS and FY2025 earnings at $5.90 EPS.

Separately, StockNews.com lowered shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 12th.

Miller Industries Trading Down 1.5 %

MLR opened at $61.84 on Friday. The firm’s 50 day moving average is $60.57 and its 200-day moving average is $57.04. Miller Industries has a 52-week low of $34.96 and a 52-week high of $69.75. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $709.30 million, a P/E ratio of 10.79 and a beta of 0.96.

Miller Industries (NYSE:MLR) last announced its 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 for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%.

Miller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, September 9th. Miller Industries’s dividend payout ratio is currently 13.26%.

Institutional Investors Weigh In On Miller Industries

A number of hedge funds have recently bought and sold shares of MLR. Narwhal Capital Management acquired a new stake in shares of Miller Industries during the first quarter worth approximately $3,670,000. Hillsdale Investment Management Inc. grew its holdings in Miller Industries by 1,404.6% during the 1st quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock worth $2,864,000 after acquiring an additional 53,373 shares in the last quarter. Millennium Management LLC increased its position in shares of Miller Industries by 94.1% in the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock worth $3,486,000 after purchasing an additional 30,714 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Miller Industries by 19.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 152,762 shares of the auto parts company’s stock valued at $7,653,000 after purchasing an additional 24,993 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Miller Industries during the second quarter worth about $1,079,000. 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.