Miller Industries (NYSE:MLR) Posts Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Miller Industries (NYSE:MLR) issued its earnings results on Wednesday. The auto parts company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.03 by $0.26, FiscalAI reports. The company had revenue of $171.92 million for the quarter, compared to the consensus estimate of $164.20 million. Miller Industries had a net margin of 2.92% and a return on equity of 5.54%.

Miller Industries Stock Performance

Shares of MLR opened at $48.15 on Friday. The company has a 50-day simple moving average of $41.53 and a two-hundred day simple moving average of $40.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.46 and a quick ratio of 2.13. The firm has a market capitalization of $550.35 million, a PE ratio of 24.32 and a beta of 1.25. Miller Industries has a one year low of $33.81 and a one year high of $49.00.

Miller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 16th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.7%. This is a boost from Miller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, March 16th. Miller Industries’s dividend payout ratio (DPR) is 30.77%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MLR. Loop Capital set a $46.00 price target on shares of Miller Industries in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Miller Industries currently has an average rating of “Hold” and a consensus price target of $55.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Miller Industries by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock worth $281,000 after purchasing an additional 312 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Miller Industries by 66.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after buying an additional 329 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Miller Industries by 7.5% in the 4th quarter. Osaic Holdings Inc. now owns 7,977 shares of the auto parts company’s stock worth $298,000 after buying an additional 556 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Miller Industries by 13.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,637 shares of the auto parts company’s stock worth $249,000 after acquiring an additional 768 shares in the last quarter. Finally, Invenomic Capital Management LP increased its stake in shares of Miller Industries by 0.7% in the 4th quarter. Invenomic Capital Management LP now owns 110,707 shares of the auto parts company’s stock worth $4,137,000 after acquiring an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 79.24% of the company’s stock.

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.