Mueller Industries (NYSE:MLI) Reaches New 52-Week High - Time to Buy?

Key Points

• Mueller Industries achieved a new 52-week high of $96.82, closing at $96.16, with a market cap of $10.67 billion and a PE ratio of 15.29.
• The company reported $1.96 EPS for the last quarter, exceeding estimates and showing a 14.1% year-over-year revenue increase to $1.14 billion.
• A quarterly dividend of $0.25 per share has been declared, reflecting an annual yield of 1.0% and a low payout ratio of 15.87%.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $96.82 and last traded at $96.16, with a volume of 35920 shares changing hands. The stock had previously closed at $95.97.

Mueller Industries Trading Down 0.6%

The business has a fifty day moving average of $87.10 and a 200 day moving average of $80.25. The company has a market capitalization of $10.61 billion, a PE ratio of 15.22 and a beta of 1.02.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.12 billion. Mueller Industries's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the sale, the director owned 92,664 shares in the company, valued at $8,522,308.08. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased its position in shares of Mueller Industries by 3.9% in the 2nd quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company's stock valued at $282,000 after purchasing an additional 134 shares during the last quarter. CW Advisors LLC lifted its position in shares of Mueller Industries by 4.0% during the 2nd quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company's stock worth $289,000 after purchasing an additional 140 shares during the last quarter. Total Wealth Planning & Management Inc. increased its holdings in Mueller Industries by 2.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company's stock valued at $473,000 after buying an additional 144 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in Mueller Industries by 6.2% in the second quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company's stock valued at $207,000 after buying an additional 152 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 94.50% 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.