Mueller Industries (NYSE:MLI) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Mueller Industries (NYSE:MLI) issued its quarterly earnings results on Tuesday. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.16, Briefing.com reports. The business 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 quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $80.98 on Thursday. The company’s fifty day simple moving average is $71.24 and its 200-day simple moving average is $63.27. The stock has a market capitalization of $9.20 billion, a PE ratio of 16.23 and a beta of 1.03. Mueller Industries has a 1-year low of $35.53 and a 1-year high of $84.11.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, September 6th. Mueller Industries’s dividend payout ratio is presently 16.03%.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock worth $7,081,770 in the last 90 days. 2.80% of the stock is currently owned by insiders.

About Mueller Industries

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.