Mueller Industries (NYSE:MLI) Releases Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Mueller Industries (NYSE:MLI) posted its earnings results on Tuesday. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.29), Briefing.com reports. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.During the same period last year, the business posted $1.21 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis.

Mueller Industries Stock Up 2.3%

Shares of Mueller Industries stock opened at $139.28 on Tuesday. Mueller Industries has a 52-week low of $66.84 and a 52-week high of $139.29. The company has a market capitalization of $15.46 billion, a P/E ratio of 20.79 and a beta of 1.03. The company has a 50 day moving average of $120.53 and a 200 day moving average of $105.84.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.00 annualized dividend and a yield of 0.7%. Mueller Industries’s dividend payout ratio (DPR) is 14.93%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director directly owned 41,745 shares in the company, valued at approximately $4,535,176.80. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Mueller Industries

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after buying an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Mueller Industries by 65.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,136 shares of the industrial products company’s stock valued at $90,000 after acquiring an additional 449 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Mueller Industries by 51.7% during the 3rd quarter. Larson Financial Group LLC now owns 915 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 312 shares in the last quarter. Employees Retirement System of Texas lifted its stake in Mueller Industries by 137.4% during the third quarter. Employees Retirement System of Texas now owns 1,009 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 584 shares during the last quarter. Finally, Quarry LP lifted its stake in Mueller Industries by 14.9% during the third quarter. Quarry LP now owns 1,461 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.