Mueller Industries (NYSE:MLI) Reaches New 1-Year High - Time to Buy?

Key Points

• Mueller Industries' stock reached a new 52-week high at $101.33, increasing shares by over 1% from its previous close of $99.66, with a trading volume of 776,785 shares.
• The company reported earnings of $1.96 per share, surpassing analysts' estimates of $1.62, along with a revenue increase of 14.1% year-over-year to $1.14 billion.
• Mueller Industries recently announced a quarterly dividend of $0.25 per share, reflecting an annualized payout of $1.00 and a yield of 1.0%.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $101.33 and last traded at $100.99, with a volume of 776785 shares changing hands. The stock had previously closed at $99.66.

Mueller Industries Stock Performance

The stock has a market capitalization of $11.18 billion, a P/E ratio of 16.03 and a beta of 1.04. The company's fifty day simple moving average is $92.20 and its two-hundred day simple moving average is $82.24.

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

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.25 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the sale, the director owned 92,664 shares in the company, valued at $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of Mueller Industries

Hedge funds have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. grew its stake in shares of Mueller Industries by 3.9% during the 2nd quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company's stock worth $282,000 after purchasing an additional 134 shares during the period. CW Advisors LLC grew its stake 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 period. Total Wealth Planning & Management Inc. grew its stake in shares of Mueller Industries by 2.5% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company's stock worth $473,000 after purchasing an additional 144 shares during the period. Contravisory Investment Management Inc. grew its stake in shares of Mueller Industries by 6.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company's stock worth $207,000 after purchasing an additional 152 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds 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.

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