Miller Industries (NYSE:MLR) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Miller Industries, Inc. (NYSE:MLR - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $59.33 and traded as high as $67.55. Miller Industries shares last traded at $67.06, with a volume of 53,866 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MLR shares. DA Davidson began coverage on Miller Industries in a research report on Wednesday, October 2nd. They issued a "buy" rating and a $82.00 price objective for the company. StockNews.com cut Miller Industries from a "buy" rating to a "hold" rating in a report on Tuesday.

Miller Industries Trading Up 3.1 %

The firm has a 50 day moving average of $61.90 and a 200-day moving average of $59.47. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $792.00 million, a P/E ratio of 11.12 and a beta of 0.94.

Miller Industries (NYSE:MLR - Get Free Report) last released its earnings results on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share (EPS) for the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%. The company had revenue of $371.45 million for the quarter. On average, equities research analysts predict that Miller Industries, Inc. will post 5.6 earnings per share for the current fiscal year.

Miller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.76 dividend on an annualized basis and a yield of 1.10%. Miller Industries's dividend payout ratio (DPR) is 12.22%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in shares of Miller Industries during the 2nd quarter valued at approximately $39,000. Point72 DIFC Ltd grew its stake in shares of Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company's stock worth $55,000 after buying an additional 595 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of Miller Industries by 101.3% during the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company's stock worth $91,000 after buying an additional 913 shares in the last quarter. Quest Partners LLC bought a new position in shares of Miller Industries in the 2nd quarter valued at $200,000. Finally, Lakewood Asset Management LLC acquired a new stake in shares of Miller Industries during the 3rd quarter valued at $250,000. Institutional investors and hedge funds own 79.24% of the company's stock.

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.