Miller Industries, Inc. (MLR)

Controls 80% of the tow truck and car carrier market

400M ~ market cap
-1.4 book value X 14 P/E= 19.6
-2.08% dividend yield
-0 debt
-50m~ cash on hand

Obviously supply issues like everyone else right now. Current order backlog 8 months on last earnings call.

2019- 39 million (doubled earnings from previous four years)
2020- 30 million

No crystal ball but bottom line trends in the future show nothing but more total miles being driven and let’s face it we’re gonna need a lot of tow trucks to repo all of these want to be Cowboys (as David would say) driving hundred thousand dollar trucks

My thesis is that this company is $1 billion company in six years.

That would be a 16.5% annual return (18.5 if include dividends) div Will likely be increased

I think in six years it’s making 60 to 70M a year net and even at 1b mkt cap would still be a great value

Really hoping management is buying back shares and/or will increase dividend soon. If one or the other my preference would be the buybacks

$50m cash 0 debt. -1.15 book. -1% buyback a quarter seems to be a complete NO BRAINER.

This is a great company and have always seemed to have great management but they are not running this like a publicly traded company.

Great opportunity right now shareholders want a return. Like conservative nature but with this balance sheet and market share either make acquisitions or a mixture of the above.

We can maintain dividend, buyback 4% year at close to book value and be cash flow neutral in a terrible operating environment.

Think it would help too if other Sr management would at least look like they are actual investors in the company and have some skin in the game.

Looks like just a bunch of stock awards (that are immediately cashed in their entirety) at the earliest possible date.