Miller Industries (NYSE:MLR) Sees Unusually-High Trading Volume – Time to Buy?

Miller Industries, Inc. (NYSE:MLR) shares saw strong trading volume on Wednesday . 82,753 shares traded hands during trading, an increase of 27% from the previous session’s volume of 64,925 shares.The stock last traded at $68.76 and had previously closed at $68.01.

Wall Street Analysts Forecast Growth

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

Miller Industries Price Performance

The firm has a market capitalization of $763.63 million, a price-to-earnings ratio of 11.07 and a beta of 0.98. The company’s fifty day moving average price is $68.91 and its 200 day moving average price is $64.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12.

Miller Industries (NYSE:MLR) last issued its quarterly earnings data on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, hitting analysts’ consensus estimates of $1.33. The firm had revenue of $314.27 million during the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same quarter in the previous year, the company earned $1.52 earnings per share. Equities research analysts expect that Miller Industries, Inc. will post 5.68 earnings per share for the current year.

Miller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Monday, December 2nd. Miller Industries’s dividend payout ratio is presently 12.60%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Miller Industries during the fourth quarter worth $36,000. Point72 DIFC Ltd raised its stake in shares of Miller Industries by 146.9% in the 2nd quarter. Point72 DIFC Ltd now owns 1,000 shares of the auto parts company’s stock valued at $55,000 after buying an additional 595 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Miller Industries during the third quarter worth $195,000. Lakewood Asset Management LLC acquired a new position in Miller Industries in the third quarter valued at about $250,000. Finally, SG Americas Securities LLC grew its position in Miller Industries by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 5,153 shares of the auto parts company’s stock worth $314,000 after acquiring an additional 2,364 shares during the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

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.