Miller Industries (NYSE:MLR) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Miller Industries, Inc. (NYSE:MLR)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $42.61 and traded as high as $48.50. Miller Industries shares last traded at $48.3380, with a volume of 70,671 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research report on Friday, March 27th. Loop Capital set a $44.00 price target on shares of Miller Industries in a research report on Monday, March 9th. Zacks Research upgraded shares of Miller Industries from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Finally, DA Davidson increased their target price on Miller Industries from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.00.

Miller Industries Trading Down 1.7%

The stock has a 50-day moving average price of $46.77 and a two-hundred day moving average price of $42.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 2.98. The stock has a market capitalization of $547.07 million, a PE ratio of 35.81 and a beta of 1.13.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $180.86 million for the quarter, compared to the consensus estimate of $181.10 million. Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. As a group, equities analysts forecast that Miller Industries, Inc. will post 1.9 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, June 8th. Investors of record on Monday, June 1st will be given a $0.21 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.84 annualized dividend and a yield of 1.8%. Miller Industries’s dividend payout ratio (DPR) is currently 62.69%.

Hedge Funds Weigh In On Miller Industries

A number of large investors have recently bought and sold shares of the business. IFP Advisors Inc increased its position in shares of Miller Industries by 200.0% during the fourth quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 604 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Miller Industries by 66.5% in the second quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock worth $37,000 after acquiring an additional 329 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Miller Industries by 736.0% during the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 1,001 shares during the last quarter. State of Wyoming purchased a new position in shares of Miller Industries during the third quarter worth $113,000. Finally, Raymond James Financial Inc. acquired a new position in Miller Industries during the second quarter valued at $125,000. 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.