Miller Industries, Inc. (NYSE:MLR) Declares $0.19 Quarterly Dividend

Miller Industries, Inc. (NYSE:MLR) announced a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.19 per share by the auto parts company on Monday, December 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, December 2nd.

Miller Industries has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Miller Industries to earn $5.90 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 12.9%.

Miller Industries Stock Performance

Shares of MLR traded down $7.99 during trading hours on Wednesday, reaching $68.64. 274,031 shares of the company traded hands, compared to its average volume of 75,739. The stock has a market capitalization of $785.93 million, a P/E ratio of 11.38 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. Miller Industries has a 12-month low of $38.33 and a 12-month high of $78.25. The business has a fifty day moving average price of $63.43 and a 200-day moving average price of $60.39.

Analyst Ratings Changes

MLR has been the topic of several recent analyst reports. StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. DA Davidson initiated coverage on shares of Miller Industries in a research note on Wednesday, October 2nd. They set a “buy” rating and a $82.00 target price on the 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.