Miller Industries, Inc. (NYSE:MLR) Declares $0.21 Quarterly Dividend

Miller Industries, Inc. (NYSE:MLR) announced a quarterly dividend on Monday, May 4th. Investors of record on Monday, June 1st will be paid a dividend of 0.21 per share by the auto parts company on Monday, June 8th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st.

Miller Industries has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Miller Industries has a dividend payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Miller Industries to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 28.2%.

Miller Industries Trading Down 1.7%

Shares of MLR opened at $47.99 on Friday. Miller Industries has a 1-year low of $33.81 and a 1-year high of $49.89. The company has a 50-day moving average of $46.85 and a 200 day moving average of $42.72. The firm has a market capitalization of $547.07 million, a price-to-earnings ratio of 35.81 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.98 and a quick ratio of 1.78.

Miller Industries (NYSE:MLR) last announced its quarterly earnings data on Wednesday, May 6th. The auto parts company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. The company had revenue of $180.86 million for the quarter, compared to the consensus estimate of $181.10 million. On average, research analysts expect that Miller Industries will post 1.9 EPS for the current year.

Institutional Investors Weigh In On Miller Industries

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Miller Industries by 66.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 329 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Miller Industries by 200.0% in the 4th quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 604 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Miller Industries by 736.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock valued at $46,000 after purchasing an additional 1,001 shares in the last quarter. State of Wyoming bought a new stake in shares of Miller Industries in the 3rd quarter valued at about $113,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Miller Industries in the 2nd quarter valued at about $125,000. Institutional investors own 79.24% of the company’s stock.

About Miller Industries

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.