Miller Industries, Inc. announced on March 8, 2023 that its board of directors has declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Previously, the company paid him $0.18 per share.
Shares must be purchased before the March 17, 2023 ex-date to be eligible for the dividend. Shareholders of record on March 20, 2023 will receive payment on March 27, 2023.
At a current price of $31.27 / share, this stock has a dividend yield of 2.30%. Looking back over five years and taking a weekly sample, the average dividend yield was 2.39%, with his lowest at 1.53% and highest at 3.33%. The standard deviation of yield is 0.40 (n=235).
The current dividend yield is 0.21 standard deviations below its historical average.
The company’s dividend payout ratio is 0.40 times. The payout ratio indicates how much of a company’s profits is paid out as dividends. A payout ratio of 1 (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above 1 means the company is steeped in savings to sustain its dividend. This is not a healthy situation. A company with little growth prospects would be expected to pay the majority of its income in dividends. This usually means a payout ratio of 0.5 to 1.0. Companies with good growth prospects are expected to retain some profits to invest in those growth prospects. This translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is Fund Sentiment?
Miller Industries, Inc. has 291 funds or institutions reporting positions. That’s a decrease of 10 owners or 3.32% over the last quarter.Portfolio average weight of all funds MLR dedicated was 0.17%, an increase of 15.19%. The total number of shares owned by institutional investors fell by 0.02% to 12,880,000 shares in the last three months. MLR’s put/call ratio stands at 0.16, indicating a bullish outlook.
What do major shareholders do?
Thrivent Financial For Lutherans holds 867,000 shares representing a 7.60% ownership interest in the company. In previous filings, the company reported that it owned 827,000 of his shares.
Portfolio allocation at MLR increased by 23.91% last quarter.
Hotchkis & Wiley Capital Management owns 587,000 shares representing a 5.14% ownership interest in the company. In previous filings, the company reported he owned 597,000 shares.
Portfolio allocation at MLR increased by 10.01% last quarter.
Royce & Associates holds 517,000 shares representing a 4.53% ownership interest in the company. In previous filings, the company reported that it owned 572,000 of his shares.
Portfolio allocation at MLR increased 4.54% last quarter.
AASMX – The Thrivent Small Cap Stock Fund holds 479,000 shares representing a 4.20% ownership interest in the company. In previous filings, the company reported he owned 417,000 shares.
Portfolio allocation at MLR increased 7.62% last quarter.
Systematic Financial Management holds 382,000 shares representing a 3.35% ownership interest in the company. In previous filings, the company reported he owned 375,000 shares.
Portfolio allocation at MLR increased by 41.13% last quarter.
Miller Industries Background Information
(This description is provided by the company.)
Miller Industries was founded in 1990. Since its inception, the company has provided innovative, high quality towing and recovery equipment worldwide.
This story was originally published in Fintel.
The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.