Miller Industries, Inc. (NYSE:MLR) Declares Quarterly Dividend of $0.19

Miller Industries, Inc. (NYSE:MLR) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.19 per share by the auto parts company on Monday, December 9th. This represents a $0.76 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Monday, December 2nd.

Miller Industries has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Miller Industries to earn $5.90 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 12.9%.

Miller Industries Stock Down 10.4 %

Shares of MLR stock traded down $7.99 on Wednesday, hitting $68.64. 274,020 shares of the stock were exchanged, compared to its average volume of 75,739. The business has a 50-day moving average of $63.07 and a 200 day moving average of $60.20. Miller Industries has a fifty-two week low of $38.33 and a fifty-two week high of $78.25. The firm has a market capitalization of $785.93 million, a P/E ratio of 10.96 and a beta of 0.94. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

MLR has been the subject of several recent research reports. StockNews.com cut shares of Miller Industries from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. DA Davidson started coverage on Miller Industries in a report on Wednesday, October 2nd. They set a “buy” rating and a $82.00 target price on the 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.