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

Mueller Industries (NYSE:MLI) posted its quarterly earnings results on Tuesday. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16, Briefing.com reports. The business had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. Mueller Industries’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Stock Performance

Shares of MLI opened at $81.79 on Friday. Mueller Industries has a 1 year low of $36.39 and a 1 year high of $84.11. The company’s 50 day simple moving average is $71.51 and its 200 day simple moving average is $63.39. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 16.39 and a beta of 1.03.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

Insiders Place Their Bets

In other news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the transaction, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated 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 directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,000 shares of company stock valued at $7,081,770. Insiders own 2.80% of the company’s stock.

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.