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

Miller Industries, Inc. (NYSE:MLR) declared a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Shareholders 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 yield of 1.03%. The ex-dividend date is Monday, December 2nd.

Miller Industries has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Miller Industries to earn $5.94 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 12.8%.

Miller Industries Stock Performance

Shares of NYSE MLR opened at $73.62 on Friday. The firm’s 50-day moving average price is $66.48 and its 200-day moving average price is $61.83. Miller Industries has a 52-week low of $38.33 and a 52-week high of $78.25. The company has a market cap of $842.21 million, a PE ratio of 12.21 and a beta of 0.94. The company has a quick ratio of 1.46, a current ratio of 2.12 and a debt-to-equity ratio of 0.16.

Miller Industries (NYSE:MLR) last issued its earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.33. The company 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 quarter in the prior year, the business posted $1.52 EPS. As a group, analysts anticipate that Miller Industries will post 5.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on MLR. StockNews.com cut Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. DA Davidson restated a “buy” rating and set a $82.00 price target on shares of Miller Industries in a research note on Friday, November 15th.

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.