Miller Industries, Inc. (NYSE:MLR - Get Free Report) announced a quarterly dividend on Wednesday, March 5th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.20 per share by the auto parts company on Monday, March 24th. This represents a $0.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Monday, March 17th. This is a 5.3% increase from Miller Industries's previous quarterly dividend of $0.19.
Miller Industries has raised its dividend by an average of 1.8% per year over the last three years. Miller Industries has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Miller Industries to earn $5.94 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 13.5%.
Miller Industries Stock Performance
Shares of MLR traded up $0.24 on Monday, reaching $48.06. The company's stock had a trading volume of 104,749 shares, compared to its average volume of 85,133. Miller Industries has a 12-month low of $41.38 and a 12-month high of $78.25. The stock has a market capitalization of $549.71 million, a P/E ratio of 7.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. The stock's 50 day simple moving average is $63.43 and its two-hundred day simple moving average is $64.89.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. StockNews.com downgraded Miller Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. DA Davidson reaffirmed a "buy" rating and set a $82.00 price target on shares of Miller Industries in a research note on Friday, November 15th.
View Our Latest Stock Analysis on MLR
Miller Industries Company Profile
(
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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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