Miller Industries, Inc. (NYSE:MLR) Announces Earnings Results
Miller Industries, Inc. (NYSE:MLR) announced its quarterly earnings data on Wednesday. The auto parts company reported $0.48 EPS for the quarter, Bloomberg Earnings reports. The company had revenue of $153.09 million during the quarter. Miller Industries had a net margin of 3.39% and a return on equity of 11.09%.
Shares of Miller Industries (NYSE:MLR) traded down 6.51% during trading on Thursday, hitting $24.40. 30,695 shares of the stock were exchanged. The stock has a market cap of $276.96 million, a P/E ratio of 13.63 and a beta of 0.58. Miller Industries has a 12-month low of $20.65 and a 12-month high of $28.85. The stock has a 50-day moving average of $25.50 and a 200 day moving average of $25.32.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Monday, September 11th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, September 8th. This represents a $0.72 dividend on an annualized basis and a yield of 2.95%. Miller Industries’s payout ratio is currently 40.22%.
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Separately, BidaskClub downgraded shares of Miller Industries from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
Several institutional investors have recently made changes to their positions in MLR. Strs Ohio purchased a new position in shares of Miller Industries during the second quarter valued at about $171,000. Alliancebernstein L.P. purchased a new position in shares of Miller Industries during the second quarter valued at about $273,000. Algert Global LLC purchased a new position in shares of Miller Industries during the second quarter valued at about $291,000. Bessemer Group Inc. increased its position in shares of Miller Industries by 8,139.4% in the second quarter. Bessemer Group Inc. now owns 11,700 shares of the auto parts company’s stock valued at $291,000 after buying an additional 11,558 shares during the period. Finally, Martingale Asset Management L P purchased a new position in shares of Miller Industries during the second quarter valued at about $401,000. 84.67% of the stock is owned by institutional investors.
About Miller Industries
Miller Industries, Inc is a manufacturer of towing and recovery equipment. The Company manufactures the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. It has domestic manufacturing operations in Tennessee and Pennsylvania, and foreign manufacturing operations in France and the United Kingdom.
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