- Miller Industries' competitive moat is built by its distributor network and its strong brands.
- Its investment in new products has grown sales historically. I appreciate that it doesn't rely on acquisitions. It innovates on its own.
- This is a family-led business where the founder still has skin in the game.
- The company has a high cash position and no long-term debt. I expect a dividend hike this year.
- The stock has a low valuation if it recovers its cyclical decline last year. The U.S. government's infrastructure plan can act as a positive catalyst for the stock.
For further details see:
Miller Industries Was Once A Sexy Pick In The 1990s - Now, It Has Steady Growth And A Moat