Mueller Industries, Inc. (NYSE:MLI – Get Free Report)’s stock price reached a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $81.32 and last traded at $81.32, with a volume of 163087 shares trading hands. The stock had previously closed at $72.08.
The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. The company had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The business’s revenue was up 21.7% on a year-over-year basis.
Mueller Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, September 6th. Mueller Industries’s payout ratio is presently 16.03%.
Insider Buying and Selling
Hedge Funds Weigh In On Mueller Industries
Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries during the 2nd quarter valued at about $26,000. Federated Hermes Inc. bought a new stake in shares of Mueller Industries during the 2nd quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Mueller Industries during the 2nd quarter valued at about $30,000. GAMMA Investing LLC boosted its stake in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Mueller Industries by 61.7% during the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.
Mueller Industries Trading Down 1.5 %
The business’s 50 day moving average price is $71.24 and its two-hundred day moving average price is $63.27. The stock has a market cap of $9.20 billion, a P/E ratio of 16.23 and a beta of 1.03.
Mueller Industries Company Profile
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.
Featured Articles
- Five stocks we like better than Mueller Industries
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- Profitably Trade Stocks at 52-Week Highs
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.com's FREE daily email newsletter.