Miller Industries (NYSE:MLR) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Miller Industries (NYSE:MLR) from a buy rating to a hold rating in a report published on Wednesday morning.

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

Miller Industries Stock Performance

Shares of MLR stock opened at $66.16 on Wednesday. The company has a market capitalization of $756.87 million, a price-to-earnings ratio of 10.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.44 and a current ratio of 2.12. Miller Industries has a one year low of $38.33 and a one year high of $78.25. The company’s 50-day moving average is $63.98 and its 200 day moving average is $60.61.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.33. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. The company had revenue of $314.27 million during the quarter. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Sell-side analysts expect that Miller Industries will post 5.68 EPS for the current fiscal year.

Miller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 1.15%. Miller Industries’s dividend payout ratio (DPR) is 12.60%.

Institutional Investors Weigh In On Miller Industries

A number of large investors have recently added to or reduced their stakes in MLR. FMR LLC boosted its stake in shares of Miller Industries by 10.2% in the 3rd quarter. FMR LLC now owns 766,623 shares of the auto parts company’s stock worth $46,764,000 after buying an additional 71,231 shares during the last quarter. Royce & Associates LP boosted its position in Miller Industries by 12.9% in 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 last quarter. Systematic Financial Management LP grew its stake in shares of Miller Industries by 2.0% during 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 period. Hotchkis & Wiley Capital Management LLC increased its position 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 purchasing an additional 37,480 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Miller Industries by 4.3% in the 3rd quarter. State Street Corp now owns 230,828 shares of the auto parts company’s stock worth $14,081,000 after purchasing an additional 9,482 shares during the period. 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.