Brokerages expect Mueller Industries, Inc. (NYSE:MLI) to post earnings per share (EPS) of $0.51 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Mueller Industries’ earnings. Mueller Industries reported earnings per share of $0.58 during the same quarter last year, which indicates a negative year over year growth rate of 12.1%. The firm is scheduled to announce its next earnings results on Tuesday, July 23rd.
On average, analysts expect that Mueller Industries will report full-year earnings of $1.45 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.75 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Mueller Industries.
Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.29). Mueller Industries had a return on equity of 19.32% and a net margin of 3.87%. The business had revenue of $661.80 million for the quarter. Mueller Industries’s revenue was up 3.4% compared to the same quarter last year.
Shares of NYSE MLI traded up $0.95 during midday trading on Tuesday, hitting $28.71. 397,363 shares of the company’s stock were exchanged, compared to its average volume of 219,401. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.99 and a current ratio of 3.56. Mueller Industries has a twelve month low of $21.49 and a twelve month high of $34.24. The company has a market cap of $1.58 billion, a P/E ratio of 15.44 and a beta of 1.36. The firm has a fifty day simple moving average of $28.39.
In other Mueller Industries news, Director Scott Jay Goldman bought 1,150 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average price of $27.35 per share, with a total value of $31,452.50. Following the transaction, the director now owns 12,450 shares of the company’s stock, valued at $340,507.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Mueller Industries by 1.6% during the fourth quarter. BlackRock Inc. now owns 8,294,970 shares of the industrial products company’s stock worth $193,770,000 after buying an additional 131,455 shares during the period. Dimensional Fund Advisors LP increased its position in Mueller Industries by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,084,663 shares of the industrial products company’s stock worth $48,698,000 after buying an additional 20,396 shares during the period. Bank of New York Mellon Corp increased its position in Mueller Industries by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 867,440 shares of the industrial products company’s stock worth $20,264,000 after buying an additional 4,472 shares during the period. Norges Bank acquired a new position in Mueller Industries during the fourth quarter worth approximately $17,327,000. Finally, Geode Capital Management LLC increased its position in Mueller Industries by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 606,533 shares of the industrial products company’s stock worth $14,168,000 after buying an additional 45,128 shares during the period. 91.61% of the stock is currently owned by institutional investors.
About Mueller Industries
Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.
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