Miller Industries, Inc. (MLR) To Go Ex-Dividend on December 2nd

Miller Industries, Inc. (NYSE:MLR) announced a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Stockholders 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 1.03%. The ex-dividend date of this dividend is Monday, December 2nd.

Miller Industries has a payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Miller Industries to earn $5.94 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 12.8%.

Miller Industries Trading Down 1.2 %

MLR opened at $73.86 on Friday. The stock has a market capitalization of $844.96 million, a PE ratio of 12.25 and a beta of 0.94. Miller Industries has a one year low of $38.33 and a one year high of $78.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 2.12. The business’s 50 day moving average price is $66.48 and its 200 day moving average price is $61.81.

Miller Industries (NYSE:MLR) last announced its quarterly earnings results on Tuesday, November 12th. The auto parts company reported $1.33 EPS for the quarter, meeting the consensus estimate of $1.33. The business had revenue of $314.27 million for the quarter. Miller Industries had a return on equity of 18.76% and a net margin of 5.23%. During the same period last year, the company earned $1.52 EPS. As a group, equities research analysts expect that Miller Industries will post 5.68 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of Miller Industries in a research note on Friday, November 15th. StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

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.