Miller Industries’ (MLR) Buy Rating Reaffirmed at DA Davidson

DA Davidson restated their buy rating on shares of Miller Industries (NYSE:MLR) in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a $82.00 target price on the auto parts company’s stock. DA Davidson also issued estimates for Miller Industries’ Q4 2024 earnings at $1.09 EPS, FY2024 earnings at $5.68 EPS and FY2025 earnings at $5.94 EPS.

Separately, StockNews.com lowered Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Miller Industries Price Performance

MLR opened at $67.25 on Friday. Miller Industries has a 52-week low of $38.33 and a 52-week high of $78.25. The company has a 50 day moving average of $63.98 and a two-hundred day moving average of $60.78. The company has a market cap of $769.34 million, a P/E ratio of 10.97 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 2.12 and a debt-to-equity ratio of 0.16.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.33. The firm had revenue of $314.27 million during the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same quarter in the prior year, the company posted $1.52 earnings per share. On average, analysts expect that Miller Industries will post 5.68 earnings per share for the current year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.13%. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in shares of Miller Industries during the second quarter worth about $39,000. Point72 DIFC Ltd raised its position in shares of Miller Industries by 146.9% during the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 595 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of Miller Industries by 101.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after acquiring an additional 913 shares in the last quarter. Quest Partners LLC acquired a new position in Miller Industries in the second quarter worth $200,000. Finally, Lakewood Asset Management LLC acquired a new position in Miller Industries in the third quarter worth $250,000. 79.24% of the stock is owned by institutional investors and hedge funds.

About Miller Industries

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.