Mueller Industries (NYSE:MLI) Announces Quarterly Earnings Results

Mueller Industries (NYSE:MLI) announced its quarterly earnings results on Tuesday. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16, Briefing.com reports. The company 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%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Trading Up 1.0 %

Mueller Industries stock traded up $0.79 during trading hours on Thursday, reaching $81.79. 890,161 shares of the company were exchanged, compared to its average volume of 714,566. Mueller Industries has a 12 month low of $36.39 and a 12 month high of $84.11. The stock has a 50-day moving average of $71.24 and a 200 day moving average of $63.27. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 16.35 and a beta of 1.03.

Mueller Industries Dividend Announcement

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

Insider Activity

In related news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock valued at $7,081,770 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

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.