Miller Industries, Inc. (MLR) To Go Ex-Dividend on June 1st

Miller Industries, Inc. (NYSE:MLR) declared a quarterly dividend on Monday, May 4th. Investors of record on Monday, June 1st will be given a dividend of 0.21 per share by the auto parts company on Monday, June 8th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, June 1st.

Miller Industries has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Miller Industries has a payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Miller Industries to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 28.2%.

Miller Industries Trading Down 1.7%

Shares of NYSE MLR opened at $47.99 on Friday. Miller Industries has a 1-year low of $33.81 and a 1-year high of $49.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.98 and a quick ratio of 1.78. The business’s 50 day moving average is $46.85 and its two-hundred day moving average is $42.72. The stock has a market capitalization of $547.07 million, a P/E ratio of 35.81 and a beta of 1.13.

Miller Industries (NYSE:MLR) last posted its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $180.86 million during the quarter, compared to the consensus estimate of $181.10 million. Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. As a group, research analysts expect that Miller Industries will post 1.9 EPS for the current year.

Wall Street Analyst Weigh In

MLR has been the subject of a number of analyst reports. Zacks Research upgraded Miller Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, May 8th. DA Davidson boosted their price objective on shares of Miller Industries from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research note on Friday, March 27th. Finally, Loop Capital set a $44.00 target price on shares of Miller Industries in a report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.00.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.