Miller Industries (NYSE:MLR) Stock Price Up 3.9%

Miller Industries, Inc. (NYSE:MLR) shares rose 3.9% during mid-day trading on Friday . The stock traded as high as $59.65 and last traded at $59.51. Approximately 17,640 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 70,778 shares. The stock had previously closed at $57.27.

Analyst Ratings Changes

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

Miller Industries Stock Performance

The firm’s 50 day moving average is $59.23 and its 200 day moving average is $53.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 2.03. The stock has a market cap of $680.74 million, a P/E ratio of 9.99 and a beta of 0.96.

Miller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Monday, September 9th. Miller Industries’s payout ratio is presently 13.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in Miller Industries in the second quarter valued at about $39,000. Point72 DIFC Ltd increased its holdings in shares of Miller Industries by 146.9% during the second quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after acquiring an additional 595 shares in the last quarter. AJOVista LLC acquired a new position in shares of Miller Industries during the fourth quarter valued at about $69,000. EntryPoint Capital LLC raised its position in shares of Miller Industries by 101.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,814 shares of the auto parts company’s stock valued at $91,000 after purchasing an additional 913 shares during the last quarter. Finally, Voisard Asset Management Group Inc. acquired a new stake in Miller Industries in the 4th quarter worth approximately $107,000. 79.24% of the stock is currently owned by hedge funds and other institutional investors.

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.