Miller Industries (NYSE:MLR) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Miller Industries, Inc. (NYSE:MLR) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.14 and traded as high as $40.98. Miller Industries shares last traded at $40.56, with a volume of 36,134 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on MLR. Zacks Research upgraded Miller Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Loop Capital set a $46.00 price target on shares of Miller Industries in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.00.

Miller Industries Stock Up 0.1%

The company has a current ratio of 3.46, a quick ratio of 2.13 and a debt-to-equity ratio of 0.11. The firm has a market cap of $463.60 million, a PE ratio of 15.60 and a beta of 1.24. The business’s 50-day simple moving average is $38.59 and its 200 day simple moving average is $40.14.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Wednesday, November 5th. The auto parts company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.25. The firm had revenue of $178.67 million during the quarter, compared to analysts’ expectations of $177.55 million. Miller Industries had a net margin of 3.59% and a return on equity of 7.32%. As a group, equities research analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Tuesday, December 2nd were issued a $0.20 dividend. The ex-dividend date was Tuesday, December 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. Miller Industries’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Investors Weigh In On Miller Industries

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its position in shares of Miller Industries by 1,842.0% during the second quarter. Public Employees Retirement System of Ohio now owns 1,709 shares of the auto parts company’s stock valued at $76,000 after buying an additional 1,621 shares during the last quarter. Narwhal Capital Management raised its stake in shares of Miller Industries by 26.3% during the 2nd quarter. Narwhal Capital Management now owns 153,479 shares of the auto parts company’s stock worth $6,824,000 after acquiring an additional 31,980 shares in the last quarter. AlphaQuest LLC lifted its position in Miller Industries by 376.2% during the second quarter. AlphaQuest LLC now owns 9,452 shares of the auto parts company’s stock valued at $420,000 after acquiring an additional 7,467 shares during the last quarter. CW Advisors LLC lifted its position in Miller Industries by 228.0% during the second quarter. CW Advisors LLC now owns 23,125 shares of the auto parts company’s stock valued at $1,028,000 after acquiring an additional 16,075 shares during the last quarter. Finally, RBF Capital LLC acquired a new stake in Miller Industries in the second quarter valued at approximately $1,272,000. 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.