Mueller Industries (NYSE:MLI) Announces Earnings Results, Beats Expectations By $0.09 EPS

Mueller Industries (NYSE:MLI - Get Free Report) posted its quarterly earnings data on Tuesday. The industrial products company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09, Zacks reports. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%.

Mueller Industries Stock Down 1.3 %

NYSE MLI traded down $1.07 during trading hours on Friday, reaching $80.30. 751,283 shares of the company were exchanged, compared to its average volume of 736,643. The stock has a market capitalization of $9.13 billion, a P/E ratio of 15.59 and a beta of 0.98. Mueller Industries has a 1 year low of $47.46 and a 1 year high of $96.81. The business's 50 day simple moving average is $80.25 and its 200-day simple moving average is $76.89.

Analysts Set New Price Targets

Separately, Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price objective on the stock in a research report on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company's stock.

About Mueller Industries

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.