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

Posted by Phillip Gast on Nov 13th, 2024

Miller Industries, Inc. (NYSE:MLR – Get Free Report) 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.

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Miller Industries Company Profile

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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 flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.