Miller Industries (MLR) Releases Earnings Results

Miller Industries (NYSE:MLR) issued its earnings results on Wednesday. The auto parts company reported $0.76 earnings per share (EPS) for the quarter, Morningstar.com reports. The business had revenue of $195.69 million for the quarter. Miller Industries had a net margin of 4.32% and a return on equity of 13.66%.

Shares of Miller Industries stock traded up $2.36 during trading on Thursday, reaching $26.16. The company had a trading volume of 131,000 shares, compared to its average volume of 21,717. The firm has a market cap of $263.53 million, a PE ratio of 9.41 and a beta of 0.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.45 and a current ratio of 2.13. Miller Industries has a fifty-two week low of $22.80 and a fifty-two week high of $29.40.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, December 3rd will be paid a $0.18 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.75%.

Separately, ValuEngine lowered shares of Miller Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd.

In other news, CEO Jeffrey I. Badgley sold 3,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $28.36, for a total value of $85,080.00. Following the sale, the chief executive officer now owns 10,000 shares in the company, valued at approximately $283,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.92% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its stake in Miller Industries by 18.0% during the second quarter. First Trust Advisors LP now owns 12,900 shares of the auto parts company’s stock worth $330,000 after acquiring an additional 1,971 shares during the period. Renaissance Technologies LLC raised its stake in Miller Industries by 39.8% during the second quarter. Renaissance Technologies LLC now owns 74,500 shares of the auto parts company’s stock worth $1,903,000 after acquiring an additional 21,200 shares during the period. North Star Investment Management Corp. acquired a new stake in Miller Industries during the third quarter worth about $384,000. Meeder Asset Management Inc. raised its stake in Miller Industries by 134.0% during the second quarter. Meeder Asset Management Inc. now owns 4,415 shares of the auto parts company’s stock worth $113,000 after acquiring an additional 2,528 shares during the period. Finally, Royce & Associates LP raised its stake in Miller Industries by 3.1% during the second quarter. Royce & Associates LP now owns 1,102,147 shares of the auto parts company’s stock worth $28,160,000 after acquiring an additional 32,963 shares during the period. Institutional investors and hedge funds own 81.94% of the company’s stock.

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Miller Industries Company Profile

Miller Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of towing and recovery equipment. It offers wreckers, such as conventional tow trucks and recovery vehicles 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 that are used to transport new or disabled vehicles and other equipment.

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Earnings History for Miller Industries (NYSE:MLR)

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