Miller Industries, Inc. (NYSE:MLR – Get Free Report) announced a quarterly dividend on Monday, May 4th. Investors of record on Monday, June 1st will be given a dividend of 0.21 per share by the auto parts company on Monday, June 8th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, June 1st.
Miller Industries has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Miller Industries has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Miller Industries to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 28.2%.
Miller Industries Stock Performance
MLR opened at $47.99 on Friday. Miller Industries has a 52-week low of $33.81 and a 52-week high of $49.89. The firm has a market capitalization of $547.07 million, a PE ratio of 35.81 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 2.98. The business’s 50-day simple moving average is $46.85 and its 200 day simple moving average is $42.72.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on MLR shares. Zacks Research upgraded Miller Industries from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Loop Capital set a $44.00 price target on Miller Industries in a research report on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Miller Industries in a research report on Friday, March 27th. Finally, DA Davidson boosted their price target on Miller Industries from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.00.
Check Out Our Latest Stock Report on Miller Industries
Miller Industries Company Profile
Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.
Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.
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