Mueller Industries (NYSE:MLI) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Mueller Industries (NYSE:MLI - Get Free Report) announced its earnings results on Tuesday. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.16, Briefing.com reports. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The business had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. The company's quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Stock Performance

Mueller Industries stock traded down $1.25 during mid-day trading on Wednesday, reaching $80.98. The company's stock had a trading volume of 1,078,729 shares, compared to its average volume of 713,709. Mueller Industries has a 12 month low of $35.53 and a 12 month high of $84.11. The business's 50 day simple moving average is $70.97 and its 200 day simple moving average is $63.14. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 16.23 and a beta of 1.03.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries's dividend payout ratio is presently 16.03%.

Insiders Place Their Bets

In related news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares of the company's stock, valued at approximately $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now owns 1,264,311 shares of the company's stock, valued at approximately $85,631,784.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the business's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock valued at $7,081,770 in the last three months. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Company Profile

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.