Mueller Industries (NYSE:MLI) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Mueller Industries (NYSE:MLI) posted its earnings results on Tuesday. The industrial products company reported $1.21 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

MLI stock opened at $78.13 on Wednesday. The company has a 50 day moving average price of $80.30 and a two-hundred day moving average price of $76.73. Mueller Industries has a one year low of $47.46 and a one year high of $96.81. The stock has a market capitalization of $8.89 billion, a P/E ratio of 15.07 and a beta of 0.98.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Activity

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a research report 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.