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

Mueller Industries (NYSE:MLI) issued its quarterly 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 net margin of 17.22% and a return on equity of 24.69%. The firm had revenue of $997.75 million during the quarter.

Mueller Industries Price Performance

MLI stock traded down $1.26 on Wednesday, hitting $65.63. 1,038,649 shares of the company were exchanged, compared to its average volume of 679,010. Mueller Industries has a twelve month low of $34.96 and a twelve month high of $67.82. The business’s fifty day moving average is $57.89 and its two-hundred day moving average is $53.83. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 13.36 and a beta of 1.06.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, June 7th. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

Insider Buying and Selling

In other news, Director John B. Hansen sold 4,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the sale, the director now owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $57.25, for a total value of $3,001,961.00. Following the completion of the sale, the chief financial officer now owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hansen sold 4,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the sale, the director now directly owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,169 shares of company stock valued at $3,506,762. 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.