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

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

Mueller Industries Price Performance

MLI stock opened at $78.09 on Tuesday. The company has a market cap of $8.88 billion, a P/E ratio of 15.16 and a beta of 0.98. Mueller Industries has a 1 year low of $47.46 and a 1 year high of $96.81. The stock’s fifty day moving average price is $80.40 and its 200-day moving average price is $76.64.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.02%. 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 research note on Wednesday, December 11th.

Insider Transactions at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.