Miller Industries, Inc. (MLR) to Issue Quarterly Dividend of $0.19 on December 9th

Miller Industries, Inc. (NYSE:MLR) declared a quarterly dividend on Tuesday, November 12th,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 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Monday, December 2nd.

Miller Industries has a dividend payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. 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 Performance

NYSE MLR opened at $68.64 on Thursday. Miller Industries has a 1 year low of $38.33 and a 1 year high of $78.25. The firm has a market capitalization of $785.93 million, a price-to-earnings ratio of 11.38 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. The firm’s 50 day simple moving average is $63.43 and its 200 day simple moving average is $60.39.

Analyst Upgrades and Downgrades

Several research firms recently commented on MLR. StockNews.com downgraded shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. DA Davidson started coverage on shares of Miller Industries in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $82.00 price objective on the stock.

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.