Mueller Industries (NYSE:MLI - Get Free Report) issued its quarterly earnings results on Tuesday. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.08, Zacks reports. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $1 billion.
Mueller Industries Stock Down 1.2 %
Shares of Mueller Industries stock traded down $0.92 during midday trading on Friday, hitting $73.06. The company's stock had a trading volume of 604,158 shares, compared to its average volume of 926,424. The firm has a market capitalization of $8.09 billion, a P/E ratio of 13.76 and a beta of 0.96. Mueller Industries has a 1-year low of $53.53 and a 1-year high of $96.81. The stock has a 50-day simple moving average of $76.60 and a 200-day simple moving average of $79.80.
Mueller Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.37%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries's payout ratio is presently 18.83%.
Insiders Place Their Bets
In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.70% of the company's stock.
About Mueller Industries
(
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Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.
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