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

Mueller Industries (NYSE:MLI) issued its quarterly earnings data on Tuesday. The industrial products company reported $1.21 earnings per share (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 Stock Performance

Shares of NYSE:MLI opened at $78.13 on Wednesday. The company has a market capitalization of $8.89 billion, a PE ratio of 15.07 and a beta of 0.98. The stock has a fifty day moving average of $80.30 and a 200-day moving average of $76.73. Mueller Industries has a one year low of $47.46 and a one year high of $96.81.

Mueller Industries Announces Dividend

The firm 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. 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 payout ratio is currently 15.53%.

Insider Activity

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the 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 completion of the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note 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.