Miller Industries (NYSE:MLR) Receives New Coverage from Analysts at DA Davidson

by · The Cerbat Gem

DA Davidson began coverage on shares of Miller Industries (NYSE:MLR – Free Report) in a research note published on Wednesday, MarketBeat Ratings 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 research note on Friday, July 12th.

View Our Latest Report on MLR

Miller Industries Price Performance

NYSE MLR opened at $61.99 on Wednesday. The company has a market cap of $711.03 million, a PE ratio of 10.82 and a beta of 0.96. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. The firm’s 50-day simple moving average is $60.48 and its two-hundred day simple moving average is $57.21. Miller Industries has a 52 week low of $34.96 and a 52 week high of $69.75.

Miller Industries (NYSE:MLR – Get Free Report) last announced its quarterly 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 for the quarter.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, September 9th. This represents a $0.76 annualized dividend and a yield of 1.23%. Miller Industries’s dividend payout ratio is currently 13.26%.

Institutional Trading of Miller Industries

Institutional investors and hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC increased its holdings in shares of Miller Industries by 2.5% in the second quarter. Cubist Systematic Strategies LLC now owns 8,220 shares of the auto parts company’s stock worth $452,000 after purchasing an additional 201 shares during the period. Ellsworth Advisors LLC grew its position in Miller Industries by 4.9% during the second quarter. Ellsworth Advisors LLC now owns 11,431 shares of the auto parts company’s stock worth $629,000 after buying an additional 531 shares in the last quarter. Point72 DIFC Ltd increased its stake in Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after acquiring an additional 595 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Miller Industries in the 2nd quarter valued at about $39,000. Finally, Kennedy Capital Management LLC boosted its position in shares of Miller Industries by 2.4% during the 1st quarter. Kennedy Capital Management LLC now owns 36,707 shares of the auto parts company’s stock valued at $1,839,000 after acquiring an additional 853 shares during the last quarter. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

Miller Industries Company Profile

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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.

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