Miller Industries, Inc. Plans Quarterly Dividend of $0.18 (NYSE:MLR)

Miller Industries, Inc. (NYSE:MLRGet Rating) declared a quarterly dividend on Wednesday, August 3rd, Zacks reports. Shareholders of record on Monday, September 5th will be given a dividend of 0.18 per share by the auto parts company on Monday, September 12th. This represents a $0.72 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 1st.

Miller Industries Stock Down 0.8 %

NYSE MLR traded down $0.18 on Friday, hitting $22.82. The stock had a trading volume of 83 shares, compared to its average volume of 33,104. The business’s fifty day moving average price is $23.48 and its 200 day moving average price is $26.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.19 and a quick ratio of 1.43. Miller Industries has a 52-week low of $21.89 and a 52-week high of $39.35. The stock has a market cap of $260.60 million, a price-to-earnings ratio of 20.95 and a beta of 0.94.

Miller Industries (NYSE:MLRGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The auto parts company reported $0.18 earnings per share (EPS) for the quarter. Miller Industries had a net margin of 1.58% and a return on equity of 4.28%. The business had revenue of $215.55 million for the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th.

Institutional Investors Weigh In On Miller Industries

Several hedge funds have recently added to or reduced their stakes in MLR. Goldman Sachs Group Inc. boosted its holdings in Miller Industries by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 112,077 shares of the auto parts company’s stock valued at $3,156,000 after purchasing an additional 34,183 shares during the last quarter. State Street Corp raised its position in shares of Miller Industries by 9.3% in the first quarter. State Street Corp now owns 290,140 shares of the auto parts company’s stock worth $8,170,000 after acquiring an additional 24,760 shares during the period. Bank of Montreal Can acquired a new position in shares of Miller Industries in the first quarter worth about $424,000. Engineers Gate Manager LP raised its position in shares of Miller Industries by 103.4% in the first quarter. Engineers Gate Manager LP now owns 20,548 shares of the auto parts company’s stock worth $579,000 after acquiring an additional 10,447 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Miller Industries by 27.9% in the first quarter. American Century Companies Inc. now owns 47,222 shares of the auto parts company’s stock worth $1,330,000 after acquiring an additional 10,292 shares during the period. 82.86% 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 flatbed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.

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Dividend History for Miller Industries (NYSE:MLR)

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