DA Davidson Lowers Earnings Estimates for Miller Industries

Miller Industries, Inc. (NYSE:MLR - Free Report) - DA Davidson cut their FY2025 EPS estimates for shares of Miller Industries in a report released on Monday, March 10th. DA Davidson analyst M. Shlisky now anticipates that the auto parts company will post earnings per share of $2.94 for the year, down from their previous forecast of $5.94. The consensus estimate for Miller Industries' current full-year earnings is $5.68 per share.

Miller Industries Trading Up 1.7 %

Shares of NYSE:MLR traded up $0.75 during trading on Wednesday, hitting $44.79. 184,010 shares of the company's stock were exchanged, compared to its average volume of 87,252. Miller Industries has a 1-year low of $41.38 and a 1-year high of $78.25. The firm has a 50-day moving average price of $61.41 and a two-hundred day moving average price of $64.32. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $512.30 million, a P/E ratio of 7.43 and a beta of 0.96.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MLR. FMR LLC raised its position in Miller Industries by 10.2% during the third quarter. FMR LLC now owns 766,623 shares of the auto parts company's stock worth $46,764,000 after acquiring an additional 71,231 shares in the last quarter. Royce & Associates LP raised its position in Miller Industries by 29.8% during the fourth quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company's stock worth $42,132,000 after acquiring an additional 148,079 shares in the last quarter. Systematic Financial Management LP raised its position in Miller Industries by 2.0% during the fourth quarter. Systematic Financial Management LP now owns 403,191 shares of the auto parts company's stock worth $26,353,000 after acquiring an additional 8,032 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Miller Industries by 11.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company's stock worth $22,435,000 after acquiring an additional 37,480 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Miller Industries by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 248,555 shares of the auto parts company's stock worth $16,246,000 after acquiring an additional 1,511 shares in the last quarter. Institutional investors own 79.24% of the company's stock.

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Miller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.79%. This is a boost from Miller Industries's previous quarterly dividend of $0.19. Miller Industries's payout ratio is currently 14.57%.

About Miller Industries

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.