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

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

Mueller Industries Stock Up 14.1 %

MLI stock opened at $82.22 on Wednesday. The company has a 50 day moving average of $70.97 and a two-hundred day moving average of $63.14. Mueller Industries has a 12-month low of $35.01 and a 12-month high of $84.11. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 16.48 and a beta of 1.03.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.20 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 0.97%. Mueller Industries’s dividend payout ratio is presently 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 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 owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the transaction, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, 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.