Miller Industries (NYSE:MLR) Downgraded by StockNews.com to “Buy”

StockNews.com downgraded shares of Miller Industries (NYSE:MLRFree Report) from a strong-buy rating to a buy rating in a research report released on Friday morning.

Miller Industries Price Performance

Shares of Miller Industries stock opened at $60.54 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.36 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $694.39 million, a PE ratio of 10.57 and a beta of 0.97. The business’s 50-day moving average price is $57.26 and its 200-day moving average price is $49.60. Miller Industries has a 12 month low of $34.96 and a 12 month high of $61.87.

Miller Industries (NYSE:MLRGet Free Report) last issued its earnings results on Wednesday, May 8th. The auto parts company reported $1.47 earnings per share for the quarter. The company had revenue of $349.87 million during the quarter. Miller Industries had a return on equity of 19.46% and a net margin of 5.41%.

Miller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, June 3rd. Miller Industries’s dividend payout ratio is presently 13.26%.

Institutional Investors Weigh In On Miller Industries

Several institutional investors and hedge funds have recently bought and sold shares of MLR. AJOVista LLC purchased a new stake in Miller Industries in the 4th quarter worth approximately $69,000. Tower Research Capital LLC TRC lifted its holdings in Miller Industries by 52.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,868 shares of the auto parts company’s stock worth $79,000 after buying an additional 639 shares during the period. Blue Trust Inc. purchased a new stake in Miller Industries in the 4th quarter worth approximately $86,000. EntryPoint Capital LLC lifted its holdings in Miller Industries by 101.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock worth $91,000 after buying an additional 913 shares during the period. Finally, Voisard Asset Management Group Inc. purchased a new stake in Miller Industries in the 4th quarter worth approximately $107,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Miller Industries Company Profile

(Get Free Report)

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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