Mueller Industries (NYSE:MLI) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Mueller Industries (NYSE:MLI) released its quarterly earnings results on Tuesday. The industrial products company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.29 by $0.12, Zacks reports. The business had revenue of $997.75 million for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Stock Down 1.9 %

Shares of MLI traded down $1.26 on Wednesday, hitting $65.63. 1,038,649 shares of the stock traded hands, compared to its average volume of 679,010. The firm has a market capitalization of $7.46 billion, a P/E ratio of 13.36 and a beta of 1.06. The stock’s 50 day moving average is $57.89 and its two-hundred day moving average is $53.83. Mueller Industries has a 1 year low of $34.96 and a 1 year high of $67.82.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, June 7th. Mueller Industries’s payout ratio is 16.03%.

Insider Activity at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Mueller Industries news, Director Elizabeth M. Donovan sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the transaction, the director now owns 24,733 shares of the company’s stock, valued at $1,427,836.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now directly owns 313,529 shares in the company, valued at approximately $17,949,535.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,169 shares of company stock valued at $3,506,762. 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.