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DA Davidson Lowers Earnings Estimates for Miller Industries

Miller Industries logo with Auto/Tires/Trucks background
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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

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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.

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