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

Mueller Industries (NYSE:MLI) posted its earnings results on Tuesday. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16, Briefing.com reports. The company had revenue of $997.80 million during 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% on a year-over-year basis.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $80.98 on Thursday. The company has a market capitalization of $9.20 billion, a P/E ratio of 16.23 and a beta of 1.03. The business’s 50 day simple moving average is $71.24 and its 200 day simple moving average is $63.27. 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 given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. Mueller Industries’s payout ratio is 16.03%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the transaction, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. This 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 link. Also, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,000 shares of company stock worth $7,081,770. Company insiders own 2.80% of the company’s stock.

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.