Miller Industries, Inc. (NYSE:MLR - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $41.38 and last traded at $46.73, with a volume of 643299 shares changing hands. The stock had previously closed at $54.87.
Wall Street Analysts Forecast Growth
MLR has been the topic of a number of recent research reports. DA Davidson restated a "buy" rating and set a $82.00 price target on shares of Miller Industries in a research report on Friday, November 15th. StockNews.com lowered shares of Miller Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th.
Check Out Our Latest Report on Miller Industries
Miller Industries Trading Down 2.0 %
The company has a market capitalization of $536.27 million, a PE ratio of 7.77 and a beta of 0.96. The company has a fifty day simple moving average of $63.43 and a 200-day simple moving average of $64.89. The company has a current ratio of 2.12, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16.
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 $0.20 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from Miller Industries's previous quarterly dividend of $0.19. Miller Industries's dividend payout ratio is currently 13.84%.
Hedge Funds Weigh In On Miller Industries
Institutional investors have recently bought and sold shares of the company. Royce & Associates LP increased its holdings in shares of Miller Industries by 29.8% during the 4th quarter. Royce & Associates LP now owns 644,607 shares of the auto parts company's stock worth $42,132,000 after buying an additional 148,079 shares during the last quarter. Portolan Capital Management LLC purchased a new position in Miller Industries in the fourth quarter worth approximately $9,366,000. FMR LLC increased its stake 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in Miller Industries by 193.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 92,955 shares of the auto parts company's stock valued at $5,670,000 after purchasing an additional 61,247 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Miller Industries by 11.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 367,793 shares of the auto parts company's stock valued at $22,435,000 after purchasing an additional 37,480 shares during the period. 79.24% of the stock is owned by hedge funds and other institutional investors.
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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