Miller Industries (NYSE:MLR) Given “Buy” Rating at DA Davidson

DA Davidson reiterated their buy rating on shares of Miller Industries (NYSE:MLR) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $82.00 price target 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 research note on Wednesday.

Miller Industries Trading Down 1.9 %

MLR stock traded down $1.25 during trading on Friday, reaching $66.16. 112,942 shares of the stock were exchanged, compared to its average volume of 76,300. 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 firm has a market capitalization of $756.80 million, a price-to-earnings ratio of 10.97 and a beta of 0.94. The business has a 50 day moving average price of $63.98 and a 200-day moving average price of $60.61. Miller Industries has a 1 year low of $38.33 and a 1 year high of $78.25.

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. The firm had revenue of $314.27 million for the quarter. Miller Industries had a net margin of 5.23% and a return on equity of 18.76%. During the same period in the previous year, the firm posted $1.52 EPS. On average, research analysts predict that Miller Industries will post 5.6 earnings per share for the current year.

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.15%. Miller Industries’s dividend payout ratio is presently 12.60%.

Institutional Trading of Miller Industries

A number of large investors have recently modified their holdings of MLR. BNP Paribas Financial Markets lifted its holdings in Miller Industries by 62.7% during the 1st quarter. BNP Paribas Financial Markets now owns 11,762 shares of the auto parts company’s stock worth $589,000 after buying an additional 4,534 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Miller Industries by 1,404.6% in the 1st quarter. Hillsdale Investment Management Inc. now owns 57,173 shares of the auto parts company’s stock valued at $2,864,000 after acquiring an additional 53,373 shares during the period. EntryPoint Capital LLC increased its holdings in shares of 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 acquiring an additional 913 shares during the period. Quadrature Capital Ltd grew its position in Miller Industries by 13.6% during the 1st quarter. Quadrature Capital Ltd now owns 22,346 shares of the auto parts company’s stock worth $1,118,000 after purchasing an additional 2,677 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its stake in Miller Industries by 2.4% in the first quarter. Kennedy Capital Management LLC now owns 36,707 shares of the auto parts company’s stock valued at $1,839,000 after purchasing an additional 853 shares during the period. 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.