Mueller Industries (NYSE:MLI) Releases Quarterly Earnings Results

Mueller Industries (NYSE:MLI) posted its earnings results on Tuesday. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09, Zacks reports. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $79.75 on Thursday. The firm has a market capitalization of $9.07 billion, a PE ratio of 15.48 and a beta of 0.98. The firm has a fifty day moving average of $80.25 and a 200 day moving average of $76.74. Mueller Industries has a 52-week low of $47.46 and a 52-week high of $96.81.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.00%. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

Analysts Set New Price Targets

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a report on Wednesday, December 11th.

Insider Activity at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by insiders.

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.