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

Mueller Industries (NYSE:MLI) released its quarterly earnings data on Tuesday. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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

Shares of MLI opened at $78.09 on Tuesday. Mueller Industries has a 1 year low of $47.46 and a 1 year high of $96.81. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 15.16 and a beta of 0.98. The business has a 50-day moving average of $80.40 and a 200-day moving average of $76.64.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Insider Transactions at Mueller Industries

In other Mueller Industries 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 stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.

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 for the company in a research report on Wednesday, December 11th.

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.