Miller Industries (NYSE:MLR) Shares Cross Above 200-Day Moving Average – What’s Next?

Miller Industries, Inc. (NYSE:MLR) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $40.08 and traded as high as $44.77. Miller Industries shares last traded at $44.1440, with a volume of 37,049 shares.

Analyst Ratings Changes

Several research firms have weighed in on MLR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Miller Industries in a research report on Monday, December 29th. Loop Capital set a $46.00 price objective on shares of Miller Industries in a report on Monday, November 10th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.00.

Miller Industries Stock Performance

The stock has a 50-day moving average price of $39.69 and a 200 day moving average price of $40.08. The company has a quick ratio of 2.13, a current ratio of 3.46 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $504.57 million, a price-to-earnings ratio of 16.98 and a beta of 1.25.

Institutional Investors Weigh In On Miller Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its position in shares of Miller Industries by 1.9% during the 2nd quarter. US Bancorp DE now owns 12,705 shares of the auto parts company’s stock worth $565,000 after purchasing an additional 237 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Miller Industries by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,624 shares of the auto parts company’s stock valued at $281,000 after buying an additional 312 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Miller Industries by 66.5% in the second quarter. EverSource Wealth Advisors LLC now owns 824 shares of the auto parts company’s stock valued at $37,000 after buying an additional 329 shares in the last quarter. 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 worth $34,000 after buying an additional 466 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Miller Industries by 4.0% during the 4th quarter. SG Americas Securities LLC now owns 13,141 shares of the auto parts company’s stock worth $491,000 after acquiring an additional 504 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

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.