Mueller Industries (NYSE:MLI) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Mueller Industries (NYSE:MLI) released its earnings results on Tuesday. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12, Zacks reports. Mueller Industries had a return on equity of 23.40% and a net margin of 16.19%. The firm had revenue of $997.75 million for the quarter.

Mueller Industries Trading Up 3.9 %

Shares of Mueller Industries stock traded up $2.57 on Thursday, reaching $68.20. 935,973 shares of the company were exchanged, compared to its average volume of 680,826. Mueller Industries has a fifty-two week low of $34.96 and a fifty-two week high of $68.94. The stock has a fifty day moving average price of $58.02 and a 200-day moving average price of $53.91. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 13.23 and a beta of 1.06.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.20 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $58.61, for a total value of $160,181.13. Following the completion of the sale, the director now owns 103,914 shares in the company, valued at approximately $6,090,399.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Mueller Industries news, Director Elizabeth M. Donovan sold 2,000 shares of Mueller Industries stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $57.73, for a total transaction of $115,460.00. Following the transaction, the director now owns 24,733 shares of the company’s stock, valued at approximately $1,427,836.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $58.61, for a total transaction of $160,181.13. Following the completion of the transaction, the director now owns 103,914 shares in the company, valued at approximately $6,090,399.54. The disclosure for this sale can be found here. Insiders have sold a total of 57,169 shares of company stock valued at $3,277,602 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

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.