Mueller Industries (NYSE:MLI) Releases Earnings Results, Misses Expectations By $0.08 EPS

Mueller Industries (NYSE:MLI) posted its earnings results on Tuesday. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.08), Zacks reports. Mueller Industries had a return on equity of 25.68% and a net margin of 18.25%.

Mueller Industries Stock Up 1.1%

Shares of NYSE:MLI opened at $60.76 on Tuesday. The company has a market capitalization of $13.44 billion, a price-to-earnings ratio of 15.82 and a beta of 1.08. The company has a 50 day moving average of $62.19 and a two-hundred day moving average of $63.57. Mueller Industries has a 52-week low of $49.51 and a 52-week high of $71.12.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.1750 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.70 annualized dividend and a yield of 1.2%. Mueller Industries’s dividend payout ratio (DPR) is 18.23%.

Insider Activity

In related news, Director John B. Hansen sold 2,444 shares of Mueller Industries stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $67.72, for a total transaction of $165,507.68. Following the sale, the director owned 181,328 shares of the company’s stock, valued at $12,279,532.16. The trade was a 1.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott Goldman sold 2,000 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $64.08, for a total transaction of $128,160.00. Following the completion of the transaction, the director owned 79,734 shares in the company, valued at $5,109,354.72. This represents a 2.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 275,444 shares of company stock worth $18,885,398. 2.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MLI has been the topic of a number of recent research reports. Wall Street Zen cut shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, July 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Mueller Industries currently has an average rating of “Buy” and a consensus target price of $75.00.

Mueller Industries Company Profile

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.