Analysts expect Mueller Industries, Inc. (NYSE:MLI) to announce earnings per share (EPS) of $0.44 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Mueller Industries’ earnings. Mueller Industries posted earnings per share of $0.34 during the same quarter last year, which would indicate a positive year over year growth rate of 29.4%. The firm is expected to report its next quarterly earnings report on Tuesday, October 22nd.
On average, analysts expect that Mueller Industries will report full year earnings of $1.52 per share for the current fiscal year. For the next fiscal year, analysts forecast that the firm will report earnings of $1.88 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Mueller Industries.
Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.07. The business had revenue of $666.93 million during the quarter. Mueller Industries had a return on equity of 19.00% and a net margin of 3.66%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS.
In other news, Chairman Gregory L. Christopher sold 2,804 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $31.02, for a total value of $86,980.08. Following the completion of the transaction, the chairman now owns 586,256 shares in the company, valued at $18,185,661.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gregory L. Christopher sold 3,009 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $31.00, for a total value of $93,279.00. Following the completion of the transaction, the chairman now owns 526,069 shares of the company’s stock, valued at approximately $16,308,139. The disclosure for this sale can be found here. Insiders have sold 15,813 shares of company stock valued at $484,359 in the last quarter. 3.30% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of MLI. Norges Bank purchased a new position in shares of Mueller Industries in the fourth quarter worth $17,327,000. Nuveen Asset Management LLC purchased a new position in shares of Mueller Industries in the second quarter worth $14,709,000. Morgan Stanley raised its stake in shares of Mueller Industries by 59.4% in the second quarter. Morgan Stanley now owns 268,572 shares of the industrial products company’s stock worth $7,861,000 after purchasing an additional 100,044 shares during the last quarter. Invesco Ltd. raised its stake in shares of Mueller Industries by 24.2% in the second quarter. Invesco Ltd. now owns 452,196 shares of the industrial products company’s stock worth $13,236,000 after purchasing an additional 88,215 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Mueller Industries by 1.8% in the second quarter. Gamco Investors INC. ET AL now owns 4,322,590 shares of the industrial products company’s stock worth $126,522,000 after purchasing an additional 75,297 shares during the last quarter. Hedge funds and other institutional investors own 91.61% of the company’s stock.
NYSE:MLI traded down $0.12 during trading hours on Thursday, reaching $25.99. 261,971 shares of the company traded hands, compared to its average volume of 229,698. The firm has a 50-day moving average price of $28.55. The firm has a market capitalization of $1.52 billion, a PE ratio of 13.97 and a beta of 1.35. Mueller Industries has a 1 year low of $21.49 and a 1 year high of $34.24. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.24 and a quick ratio of 1.91.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, September 5th. Mueller Industries’s payout ratio is 21.51%.
Mueller Industries Company Profile
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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