Miller Industries (NYSE:MLR) Reaches New 12-Month Low – Should You Sell?

Miller Industries, Inc. (NYSE:MLR)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $41.38 and last traded at $46.73, with a volume of 643299 shares. The stock had previously closed at $54.87.

Wall Street Analyst Weigh In

MLR has been the topic of a number of analyst reports. DA Davidson reiterated a “buy” rating and set a $82.00 price objective on shares of Miller Industries in a research note on Friday, November 15th. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Miller Industries Trading Up 3.0 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The firm’s fifty day simple moving average is $63.43 and its 200-day simple moving average is $64.86. The stock has a market cap of $547.53 million, a P/E ratio of 7.94 and a beta of 0.96.

Miller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.67%. This is a positive change from Miller Industries’s previous quarterly dividend of $0.19. Miller Industries’s payout ratio is currently 13.84%.

Institutional Trading of Miller Industries

Several hedge funds have recently modified their holdings of MLR. Barclays PLC increased its stake in Miller Industries by 115.6% during the 3rd quarter. Barclays PLC now owns 28,131 shares of the auto parts company’s stock valued at $1,717,000 after purchasing an additional 15,082 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Miller Industries by 15.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,271 shares of the auto parts company’s stock valued at $11,652,000 after purchasing an additional 24,427 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Miller Industries during the 3rd quarter valued at $496,000. Sanctuary Advisors LLC bought a new stake in Miller Industries during the 3rd quarter valued at $195,000. Finally, Systematic Financial Management LP increased its stake in Miller Industries by 2.0% during the 3rd quarter. Systematic Financial Management LP now owns 395,159 shares of the auto parts company’s stock valued at $24,105,000 after purchasing an additional 7,586 shares in the last quarter. 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.