Miller Industries (NYSE:MLR) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Miller Industries (NYSE:MLR) from a buy rating to a hold rating in a research report released on Wednesday morning.

Separately, DA Davidson began coverage on Miller Industries in a research report on Wednesday, October 2nd. They set a “buy” rating and a $82.00 price target for the company.

Miller Industries Stock Performance

Shares of MLR opened at $66.16 on Wednesday. The company has a market cap of $756.80 million, a PE ratio of 10.97 and a beta of 0.94. Miller Industries has a one year low of $38.33 and a one year high of $78.25. The stock has a 50-day moving average of $63.81 and a 200-day moving average of $60.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.44.

Miller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a $0.19 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.15%. Miller Industries’s dividend payout ratio (DPR) is presently 12.60%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Miller Industries during the second quarter valued at approximately $39,000. Point72 DIFC Ltd raised its position in Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 595 shares during the period. EntryPoint Capital LLC lifted its stake in Miller Industries by 101.3% in the first quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock worth $91,000 after purchasing an additional 913 shares during the last quarter. Quest Partners LLC purchased a new stake in Miller Industries during the second quarter valued at about $200,000. Finally, Lakewood Asset Management LLC bought a new position in shares of Miller Industries during the third quarter valued at about $250,000. Institutional investors 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.