Miller Industries, Inc. to Post Q3 2024 Earnings of $1.33 Per Share, DA Davidson Forecasts (NYSE:MLR)

Miller Industries, Inc. (NYSE:MLR) – Investment analysts at DA Davidson issued their Q3 2024 EPS estimates for Miller Industries in a research note issued to investors on Wednesday, October 2nd. DA Davidson analyst M. Shlisky forecasts that the auto parts company will earn $1.33 per share for the quarter. DA Davidson has a “Buy” rating and a $82.00 price target on the stock. DA Davidson also issued estimates for Miller Industries’ FY2024 earnings at $5.60 EPS and FY2025 earnings at $5.90 EPS.

Separately, StockNews.com cut shares of Miller Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 12th.

Miller Industries Stock Performance

NYSE MLR opened at $61.99 on Friday. The company’s fifty day moving average is $60.48 and its two-hundred day moving average is $57.21. Miller Industries has a 52-week low of $34.96 and a 52-week high of $69.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.44. The firm has a market capitalization of $711.03 million, a price-to-earnings ratio of 10.82 and a beta of 0.96.

Miller Industries (NYSE:MLR) last posted its quarterly earnings data on Wednesday, August 7th. The auto parts company reported $1.78 earnings per share for the quarter. The business had revenue of $371.45 million during the quarter. Miller Industries had a return on equity of 20.16% and a net margin of 5.55%.

Miller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, September 9th. Miller Industries’s dividend payout ratio (DPR) is currently 13.26%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MLR. Allspring Global Investments Holdings LLC raised its position in shares of Miller Industries by 1.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 154,484 shares of the auto parts company’s stock worth $8,500,000 after acquiring an additional 1,722 shares during the last quarter. AdvisorShares Investments LLC boosted its holdings in shares of Miller Industries by 7.4% in the second quarter. AdvisorShares Investments LLC now owns 136,902 shares of the auto parts company’s stock valued at $7,426,000 after buying an additional 9,384 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Miller Industries by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 100,538 shares of the auto parts company’s stock worth $5,532,000 after acquiring an additional 1,253 shares during the period. Narwhal Capital Management lifted its position in Miller Industries by 18.2% in the 2nd quarter. Narwhal Capital Management now owns 86,585 shares of the auto parts company’s stock valued at $4,764,000 after acquiring an additional 13,323 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Miller Industries by 94.1% in the 2nd quarter. Millennium Management LLC now owns 63,360 shares of the auto parts company’s stock worth $3,486,000 after purchasing an additional 30,714 shares during the period. Institutional investors own 79.24% of the company’s stock.

About Miller Industries

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.