Miller Industries (NYSE:MLR) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Miller Industries, Inc. (NYSE:MLR) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.46 and traded as high as $45.93. Miller Industries shares last traded at $45.1970, with a volume of 81,127 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MLR shares. Weiss Ratings restated a “hold (c)” rating on shares of Miller Industries in a research note on Monday, December 29th. DA Davidson raised their target price on shares of Miller Industries from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Loop Capital set a $44.00 target price on shares of Miller Industries in a report on Monday, March 9th. Finally, Zacks Research lowered shares of Miller Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.50.

Miller Industries Price Performance

The company has a market cap of $513.98 million, a P/E ratio of 22.83 and a beta of 1.25. The stock has a 50-day simple moving average of $43.06 and a 200 day simple moving average of $40.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.87 and a current ratio of 3.22.

Miller Industries (NYSE:MLR) last released its quarterly earnings data on Wednesday, March 4th. The auto parts company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.26. The business had revenue of $171.92 million for the quarter, compared to analysts’ expectations of $164.20 million. Miller Industries had a return on equity of 5.52% and a net margin of 2.92%. On average, equities analysts expect that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Monday, March 16th were issued a $0.21 dividend. This is a boost from Miller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.84 annualized dividend and a yield of 1.9%. Miller Industries’s payout ratio is presently 42.42%.

Hedge Funds Weigh In On Miller Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in MLR. Hotchkis & Wiley Capital Management LLC increased its stake in Miller Industries by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 566,171 shares of the auto parts company’s stock valued at $22,885,000 after acquiring an additional 101,973 shares during the period. Systematic Financial Management LP lifted its stake in Miller Industries by 2.1% during the fourth quarter. Systematic Financial Management LP now owns 440,596 shares of the auto parts company’s stock worth $16,465,000 after purchasing an additional 9,170 shares during the period. First Wilshire Securities Management Inc. lifted its stake in Miller Industries by 980.1% during the fourth quarter. First Wilshire Securities Management Inc. now owns 298,801 shares of the auto parts company’s stock worth $11,166,000 after purchasing an additional 271,136 shares during the period. Geode Capital Management LLC boosted its holdings in Miller Industries by 2.6% during the second quarter. Geode Capital Management LLC now owns 288,809 shares of the auto parts company’s stock valued at $12,842,000 after purchasing an additional 7,252 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Miller Industries by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 286,984 shares of the auto parts company’s stock valued at $12,160,000 after purchasing an additional 112,925 shares in the last quarter. 79.24% of the stock is owned by institutional investors.

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.