Split History
MLR split history picture
Miller Industries (MLR) has 4 splits in our MLR split history database. The first split for MLR took place on April 15, 1996. This was a 3 for 2 split, meaning for each 2 shares of MLR owned pre-split, the shareholder now owned 3 shares. For example, a 1000 share position pre-split, became a 1500 share position following the split. MLR's second split took place on October 01, 1996. This was a 2 for 1 split, meaning for each share of MLR owned pre-split, the shareholder now owned 2 shares. For example, a 1500 share position pre-split, became a 3000 share position following the split. MLR's third split took place on December 31, 1996. This was a 3 for 2 split, meaning for each 2 shares of MLR owned pre-split, the shareholder now owned 3 shares. For example, a 3000 share position pre-split, became a 4500 share position following the split. MLR's 4th split took place on October 01, 2001. This was a 1 for 5 reverse split, meaning for each 5 shares of MLR owned pre-split, the shareholder now owned 1 share. For example, a 4500 share position pre-split, became a 900 share position following the split.

When a company such as Miller Industries splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Miller Industries conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the MLR split history from start to finish, an original position size of 1000 shares would have turned into 900 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Miller Industries shares, starting with a $10,000 purchase of MLR, presented on a split-history-adjusted basis factoring in the complete MLR split history. MLR split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 02/23/2010
End date: 02/21/2020
Start price/share: $11.31
End price/share: $33.04
Starting shares: 884.17
Ending shares: 1,163.06
Dividends reinvested/share: $5.74
Total return: 284.27%
Average Annual Total Return: 14.41%
Starting investment: $10,000.00
Ending investment: $38,427.30
Years: 10.00
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 02/23/2010
End date: 02/21/2020
Start price/share: $11.31
End price/share: $33.04
Dividends collected/share: $5.74
Total return: 242.88%
Average Annual Total Return: 13.11%
Starting investment: $10,000.00
Ending investment: $34,277.57
Years: 10.00
Miller Industries is a manufacturer of towing and recovery equipment. Co. manufactures the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. Co. purchases the truck chassis for resale to its customers. Co. also manufactures vehicle transport trailers. Co.'s products are sold through independent distributors that serve the U.S., Canada and Mexico, and foreign markets including Europe, the Pacific Rim, the Middle East, South America and Africa, and through prime contractors to governmental entities. Co.'s independent distributors also provide Co. with parts and service. Co. manufactures a line of wrecker, car carrier and trailer bodies. According to our MLR split history records, Miller Industries has had 4 splits.
Date Ratio
04/15/19963 for 2
10/01/19962 for 1
12/31/19963 for 2
10/01/20011 for 5
MLR is categorized under the Consumer sector; below are some other companies in the same sector that also have a history of stock splits:

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