Miller Industries (NYSE:MLR) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Miller Industries, Inc. (NYSE:MLR)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.46 and traded as high as $45.93. Miller Industries shares last traded at $45.1970, with a volume of 81,127 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Miller Industries in a research note on Monday, December 29th. Loop Capital set a $44.00 price objective on Miller Industries in a report on Monday, March 9th. Zacks Research downgraded Miller Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 10th. Finally, DA Davidson upped their target price on Miller Industries from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.50.

Miller Industries Stock Down 0.1%

The firm has a market capitalization of $513.01 million, a P/E ratio of 22.79 and a beta of 1.25. The firm’s 50 day moving average is $43.26 and its two-hundred day moving average is $40.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.22 and a quick ratio of 1.87.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, March 4th. The auto parts company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.26. Miller Industries had a net margin of 2.92% and a return on equity of 5.52%. The firm had revenue of $171.92 million for the quarter, compared to analyst estimates of $164.20 million. Research analysts predict that Miller Industries, Inc. will post 5.68 EPS for the current year.

Miller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 16th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, March 16th. This is an increase from Miller Industries’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Miller Industries’s dividend payout ratio is 42.42%.

Institutional Trading of Miller Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in shares of Miller Industries during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in Miller Industries by 66.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after acquiring an additional 329 shares during the period. CWM LLC lifted its holdings in Miller Industries by 121.7% during the 3rd quarter. CWM LLC now owns 849 shares of the auto parts company’s stock valued at $34,000 after purchasing an additional 466 shares during the last quarter. IFP Advisors Inc boosted its position in Miller Industries by 200.0% during the fourth quarter. IFP Advisors Inc now owns 906 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 604 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Miller Industries by 736.0% during the third quarter. Russell Investments Group Ltd. now owns 1,137 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 1,001 shares during the period. Institutional investors own 79.24% of the company’s stock.

About Miller Industries

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.