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

Mueller Industries (NYSE:MLI) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16, Briefing.com reports. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The firm had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. The company’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Price Performance

Mueller Industries stock opened at $82.22 on Wednesday. The firm has a market capitalization of $9.34 billion, a P/E ratio of 16.48 and a beta of 1.03. The stock has a fifty day moving average price of $70.97 and a two-hundred day moving average price of $63.14. Mueller Industries has a 52-week low of $35.01 and a 52-week high of $84.11.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s dividend payout ratio is 16.03%.

Insider Transactions at Mueller Industries

In related news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 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 sale, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries 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 completion of the transaction, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,000 shares of company stock valued at $7,081,770. 2.80% of the stock is owned by insiders.

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.