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

Mueller Industries (NYSE:MLI) posted its earnings results on Tuesday. The industrial products company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.29 by $0.12, Zacks reports. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The business had revenue of $997.75 million during the quarter.

Mueller Industries Trading Up 1.6 %

Shares of MLI traded up $1.09 during midday trading on Friday, reaching $69.29. The stock had a trading volume of 160,491 shares, compared to its average volume of 677,187. The company’s 50-day moving average is $58.22 and its 200 day moving average is $54.01. Mueller Industries has a 12-month low of $34.96 and a 12-month high of $70.39. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 13.66 and a beta of 1.06.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, June 7th. Mueller Industries’s payout ratio is currently 16.03%.

Insider Transactions at Mueller Industries

In related news, Director Elizabeth M. Donovan sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $57.73, for a total transaction of $115,460.00. Following the completion of the sale, the director now directly owns 24,733 shares in the company, valued at approximately $1,427,836.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Elizabeth M. Donovan sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the transaction, the director now owns 24,733 shares of the company’s stock, valued at approximately $1,427,836.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 2,733 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $58.61, for a total value of $160,181.13. Following the completion of the transaction, the director now directly owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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.