Miller Industries Shares Soar 3.41% on Strong Earnings

Miller Industries (MLR) shares surged 3.41% today, marking the fourth consecutive day of gains, with a cumulative increase of 11.05% over the past four days. The stock price reached its highest level since March 2025, with an intraday gain of 5.60%.

The strategy of buying MLR shares after they reached a recent high and holding for 1 week resulted in moderate returns over the past 5 years. The backtest shows an annualized return of 9.16% during this period, slightly underperforming the benchmark's 13.81% annualized return. With a 66.88% winning months and a maximum drawdown of 23.55%, the strategy indicates a reasonable risk-adjusted return, making it suitable for investors seeking stability after peak market exposure.

Miller Industries reported their first-quarter 2025 earnings on May 7th, with an earnings per share (EPS) of $0.69, exceeding analysts’ consensus estimates of $0.60 by $0.09. The company also reported revenues of $225.65 million, slightly above the consensus estimate of $224.35 million. This positive earnings report likely contributed to the recent surge in stock price, as investors responded favorably to the company's financial performance.

Institutional investor activity has also played a role in the stock's recent movements. Tower Research Capital LLC TRC reduced its holdings in Miller Industries by 51.8% during the fourth quarter. However, several other institutional investors acquired new stakes in the company during the same period. These shifts in institutional holdings can impact stock price due to changes in investor sentiment and market perception, adding to the volatility in Miller Industries' share price.

Additionally, Miller Industries announced a quarterly dividend of $0.20 per share, payable on June 9th, 2025, with an ex-dividend date of June 2nd, 2025. Dividend announcements can influence stock prices as they reflect the company’s financial health and commitment to returning value to shareholders. This announcement likely contributed to the positive sentiment surrounding the stock, further driving its recent gains.