Miller Industries (NYSE:MLR) Research Coverage Started at DA Davidson

DA Davidson assumed coverage on shares of Miller Industries (NYSE:MLR) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $82.00 price target on the auto parts company’s stock. DA Davidson also issued estimates for Miller Industries’ Q3 2024 earnings at $1.33 EPS, FY2024 earnings at $5.60 EPS and FY2025 earnings at $5.90 EPS.

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

Miller Industries Stock Performance

Shares of MLR stock opened at $61.97 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $60.48 and a two-hundred day simple moving average of $57.15. Miller Industries has a 12 month low of $34.96 and a 12 month high of $69.75. The firm has a market capitalization of $710.80 million, a PE ratio of 10.82 and a beta of 0.96.

Miller Industries (NYSE:MLR) last posted 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.

Miller Industries Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.23%. Miller Industries’s dividend payout ratio is currently 13.26%.

Institutional Investors Weigh In On Miller Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLR. Innealta Capital LLC purchased a new position in shares of Miller Industries in the 2nd quarter worth approximately $39,000. Point72 DIFC Ltd boosted its position in Miller Industries by 146.9% in the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 595 shares during the last quarter. EntryPoint Capital LLC grew its stake in Miller Industries by 101.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after purchasing an additional 913 shares during the period. Voisard Asset Management Group Inc. purchased a new stake in shares of Miller Industries during the 4th quarter valued at $107,000. Finally, Quest Partners LLC bought a new stake in shares of Miller Industries during the 2nd quarter worth $200,000. 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.