Miller Industries (NYSE:MLR) Hits New 52-Week High at $54.20

Miller Industries, Inc. (NYSE:MLR) shares reached a new 52-week high on Monday . The company traded as high as $54.20 and last traded at $53.68, with a volume of 15053 shares changing hands. The stock had previously closed at $52.97.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 7th.

Miller Industries Stock Up 2.4 %

The stock has a 50-day moving average of $48.96 and a 200 day moving average of $43.32. The company has a market capitalization of $621.90 million, a PE ratio of 10.73 and a beta of 1.03. The company has a quick ratio of 1.37, a current ratio of 2.17 and a debt-to-equity ratio of 0.17.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, March 6th. The auto parts company reported $1.45 earnings per share (EPS) for the quarter. The firm had revenue of $296.25 million during the quarter. Miller Industries had a return on equity of 17.97% and a net margin of 5.05%.

Miller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.40%. This is a boost from Miller Industries’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, March 15th. Miller Industries’s payout ratio is presently 14.99%.

Hedge Funds Weigh In On Miller Industries

Institutional investors and hedge funds have recently bought and sold shares of the company. Ellsworth Advisors LLC grew its stake in Miller Industries by 3.3% in the 4th quarter. Ellsworth Advisors LLC now owns 10,205 shares of the auto parts company’s stock valued at $432,000 after buying an additional 327 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Miller Industries by 11.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,800 shares of the auto parts company’s stock valued at $161,000 after purchasing an additional 400 shares during the period. North Star Investment Management Corp. raised its stake in shares of Miller Industries by 1.0% during the 4th quarter. North Star Investment Management Corp. now owns 51,275 shares of the auto parts company’s stock valued at $2,168,000 after purchasing an additional 500 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Miller Industries by 52.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,868 shares of the auto parts company’s stock worth $79,000 after purchasing an additional 639 shares in the last quarter. Finally, Redmont Wealth Advisors LLC boosted its stake in Miller Industries by 6.4% in the 4th quarter. Redmont Wealth Advisors LLC now owns 17,209 shares of the auto parts company’s stock worth $728,000 after purchasing an additional 1,033 shares during the period. 79.24% of the stock is owned by institutional investors.

Miller Industries Company Profile

Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.