Mueller Industries (NYSE:MLI) Announces Earnings Results, Beats Estimates 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 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 analyst estimates of $936.00 million. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. Mueller Industries’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Trading Down 1.5 %

Shares of MLI opened at $80.98 on Thursday. Mueller Industries has a 1-year low of $35.53 and a 1-year high of $84.11. The stock 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 moving average price is $71.24 and its 200 day moving average price is $63.27.

Mueller Industries Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, September 6th. Mueller Industries’s dividend payout ratio is presently 16.03%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the sale, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, 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. Insiders have sold a total of 103,000 shares of company stock valued at $7,081,770 over the last ninety days. Corporate 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.