Mueller Industries (NYSE:MLI) Issues Earnings Results, Beats Estimates By $0.08 EPS

Mueller Industries (NYSE:MLI) posted its earnings results on Monday. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08, Zacks reports. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Trading Up 2.8 %

Shares of MLI stock opened at $70.40 on Wednesday. Mueller Industries has a 1-year low of $53.53 and a 1-year high of $96.81. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 13.26 and a beta of 0.96. The stock has a 50-day moving average of $77.11 and a 200-day moving average of $79.82.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.42%. Mueller Industries’s payout ratio is presently 18.83%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% 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.