Miller Industries (NYSE:MLR) Upgraded at StockNews.com

StockNews.com upgraded shares of Miller Industries (NYSE:MLRGet Rating) from a hold rating to a buy rating in a research note released on Friday morning.

Miller Industries Stock Down 3.0 %

MLR stock opened at $26.93 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.27 and a quick ratio of 1.41. Miller Industries has a 52-week low of $21.00 and a 52-week high of $36.94. The company has a 50-day moving average of $23.50 and a two-hundred day moving average of $23.77. The stock has a market capitalization of $307.46 million, a price-to-earnings ratio of 22.26 and a beta of 0.98.

Miller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, December 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, December 2nd. Miller Industries’s dividend payout ratio (DPR) is 59.50%.

Institutional Investors Weigh In On Miller Industries

Several hedge funds have recently made changes to their positions in MLR. Franklin Resources Inc. lifted its stake in shares of Miller Industries by 340.8% in the second quarter. Franklin Resources Inc. now owns 289,316 shares of the auto parts company’s stock valued at $6,559,000 after buying an additional 223,675 shares during the period. Pacific Ridge Capital Partners LLC bought a new stake in shares of Miller Industries in the second quarter valued at about $2,604,000. Dean Investment Associates LLC bought a new stake in shares of Miller Industries in the second quarter valued at about $1,255,000. Systematic Financial Management LP lifted its stake in shares of Miller Industries by 21.0% in the first quarter. Systematic Financial Management LP now owns 317,759 shares of the auto parts company’s stock valued at $8,948,000 after buying an additional 55,160 shares during the period. Finally, Brandes Investment Partners LP bought a new stake in shares of Miller Industries in the third quarter valued at about $1,068,000. Institutional investors own 80.63% of the company’s stock.

Miller Industries Company Profile

(Get Rating)

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 flatbed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.

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