Mueller Industries (NYSE:MLI) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Mueller Industries (NYSE:MLI) released its quarterly earnings results on Tuesday. The industrial products company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09, Zacks reports. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%.

Mueller Industries Price Performance

Shares of MLI opened at $79.75 on Thursday. The firm has a market capitalization of $9.07 billion, a PE ratio of 15.48 and a beta of 0.98. The company’s 50-day moving average is $80.25 and its 200-day moving average is $76.74. Mueller Industries has a fifty-two week low of $47.46 and a fifty-two week high of $96.81.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

Wall Street Analyst Weigh In

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Wednesday, December 11th.

Insider Buying and Selling

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is 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.