Brokerages forecast that Mueller Industries, Inc. (NYSE:MLI) will post earnings of $0.57 per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Mueller Industries’ earnings. Mueller Industries reported earnings of $0.47 per share during the same quarter last year, which suggests a positive year over year growth rate of 21.3%. The business is expected to report its next quarterly earnings report on Tuesday, April 23rd.
According to Zacks, analysts expect that Mueller Industries will report full year earnings of $1.90 per share for the current fiscal year. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Mueller Industries.
Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 5th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.25. The business had revenue of $559.09 million during the quarter. Mueller Industries had a net margin of 4.17% and a return on equity of 18.83%. Mueller Industries’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share.
In other news, Director Scott Jay Goldman sold 1,000 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $32.75, for a total value of $32,750.00. Following the completion of the sale, the director now directly owns 10,700 shares in the company, valued at approximately $350,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $32.69, for a total value of $1,634,500.00. Following the completion of the sale, the chairman now owns 406,069 shares of the company’s stock, valued at $13,274,395.61. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
Several large investors have recently bought and sold shares of MLI. Investors Research Corp increased its stake in Mueller Industries by 1.3% in the 4th quarter. Investors Research Corp now owns 30,600 shares of the industrial products company’s stock worth $715,000 after buying an additional 400 shares in the last quarter. Piedmont Investment Advisors Inc. increased its stake in Mueller Industries by 3.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 13,706 shares of the industrial products company’s stock worth $320,000 after buying an additional 451 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Mueller Industries by 8.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,935 shares of the industrial products company’s stock worth $185,000 after buying an additional 627 shares in the last quarter. Teachers Advisors LLC increased its stake in Mueller Industries by 1.2% in the 3rd quarter. Teachers Advisors LLC now owns 114,128 shares of the industrial products company’s stock worth $3,307,000 after buying an additional 1,358 shares in the last quarter. Finally, Texas Permanent School Fund increased its stake in Mueller Industries by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 37,739 shares of the industrial products company’s stock worth $882,000 after buying an additional 1,503 shares in the last quarter. Hedge funds and other institutional investors own 92.03% of the company’s stock.
Shares of MLI opened at $30.71 on Friday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 16.51 and a beta of 1.44. The company has a quick ratio of 1.60, a current ratio of 3.02 and a debt-to-equity ratio of 0.87. Mueller Industries has a 1-year low of $21.49 and a 1-year high of $34.24.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.30%. Mueller Industries’s dividend payout ratio (DPR) is 21.51%.
Mueller Industries Company Profile
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
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