Miller Industries, Inc. (MLR)

In the past six months, Miller Industries announced its fourth-quarter and full-year 2025 results on March 4, 2026, completed the acquisition of Omars – S.p.A. in December 2025, and reported over $150 million in global military commitments with production expected to begin in 2027. The company approved a 5% increase in its quarterly dividend to $0.21 per share and outlined a revenue target of $850 million to $900 million for 2026. Insider selling activity by executives was reported on March 3, 2026, and the stock price has increased by 25.01% over the last year.

There is some seasonality to Miller Industries' annual results. The company experienced a slowdown in demand in its distribution channels during the second half of 2024 due to a buildup of chassis inventory. Miller Industries anticipates a return to a harmonized flow of manufactured equipment and chassis deliveries throughout fiscal year 2025 and expects production volumes to increase throughout the first and second quarters of 2026 as distributor inventories normalize. The towing and recovery equipment industry is generally expected to experience stable growth.

Miller Industries, Inc. is a leading American manufacturer of towing and recovery equipment, operating in the Consumer Discretionary sector and Auto Parts industry. Founded in 1990, it is the world's largest manufacturer of towing and recovery equipment, producing a range of wreckers, car carriers, and rotators under various brand names. The company also offers transport trailers for moving multiple vehicles.

Miller Industries has a significant global presence with its headquarters in Ooltewah, Tennessee. It has domestic manufacturing operations in Tennessee and Pennsylvania. Internationally, it operates manufacturing facilities in France, the United Kingdom, and Italy. Its products are sold through a network of independent distributors across the U.S., Canada, Mexico, Europe, the Pacific Rim, the Middle East, South America, and Africa. The company also sells directly to governmental entities through prime contractors.

Miller Industries maintains a strong brand reputation as the world's largest manufacturer of towing and recovery equipment. The company is known for its commitment to quality, innovative designs, and robust, reliable equipment. Strategic investments in supply chain, manufacturing efficiency, and innovation contributed to record results in 2024. The acquisition of Omars – S.p.A. in December 2025 enhanced its European brand portfolio. Miller Industries also became the Official Towing and Recovery Equipment Partner of NASCAR in February 2026 and has been proactive in communicating its investment in capacity.

Miller Industries stock ownership is a mix of institutional, insider, and retail investors. Approximately 89.87% of the shares are held by institutional investors, while insiders hold about 2.51%. Retail investors hold approximately 22.86% of the company's stock. Major institutional owners include Fmr Llc, Neuberger Berman Group LLC, BlackRock, Inc., Dimensional Fund Advisors Lp, and Vanguard Group Inc. William G. Miller, the founder and Executive Chairman, is the largest individual shareholder, owning 891,310 shares, representing 7.84% of the company.