Brokerages Anticipate Mueller Industries, Inc. (MLI) Will Announce Earnings of $0.57 Per Share

Equities research analysts forecast that Mueller Industries, Inc. (NYSE:MLI) will post earnings of $0.57 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Mueller Industries’ earnings. Mueller Industries posted earnings per share of $0.47 in the same quarter last year, which would suggest a positive year over year growth rate of 21.3%. The company is scheduled to report its next quarterly earnings results 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 financial year. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Mueller Industries.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.25. Mueller Industries had a return on equity of 18.83% and a net margin of 4.17%. The business had revenue of $559.09 million during the quarter. During the same quarter last year, the company posted $0.10 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year.

Several equities research analysts recently issued reports on MLI shares. TheStreet upgraded Mueller Industries from a “c+” rating to a “b” rating in a report on Wednesday, February 6th. Zacks Investment Research raised Mueller Industries from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 26th. Finally, ValuEngine raised Mueller Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th.

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 transaction of $32,750.00. Following the transaction, the director now owns 10,700 shares of the company’s stock, valued at approximately $350,425. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $32.69, for a total value of $1,634,500.00. Following the transaction, the chairman now directly owns 406,069 shares in the company, valued at approximately $13,274,395.61. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC purchased a new position in shares of Mueller Industries during the 4th quarter valued at $97,000. BlueMountain Capital Management LLC raised its stake in shares of Mueller Industries by 111.3% during the 3rd quarter. BlueMountain Capital Management LLC now owns 5,446 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 2,869 shares during the period. First Republic Investment Management Inc. bought a new stake in shares of Mueller Industries during the 3rd quarter valued at $209,000. GSA Capital Partners LLP bought a new stake in shares of Mueller Industries during the 3rd quarter valued at $228,000. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Mueller Industries by 8.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,935 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 627 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Mueller Industries stock opened at $31.98 on Tuesday. Mueller Industries has a 12-month low of $21.49 and a 12-month high of $34.24. The firm has a market cap of $1.81 billion, a P/E ratio of 17.19 and a beta of 1.43. The company has a quick ratio of 1.60, a current ratio of 3.02 and a debt-to-equity ratio of 0.87.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 1.25%. Mueller Industries’s dividend payout ratio is currently 21.51%.

About Mueller Industries

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, and line sets for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.

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