Mueller Industries (NYSE:MLI) Releases Quarterly Earnings Results, Beats Estimates By $0.67 EPS

Key Points

• Mueller Industries beat earnings estimates, reporting $2.16 EPS vs. the $1.49 consensus (a $0.67 beat), with a strong return on equity of 24.70% and a net margin of 18.31%.
• Dividend increased to $0.35 quarterly (up from $0.25), implying a $1.40 annualized payout and a 1.2% yield with a 20.38% payout ratio.
• Valuation and stock range: shares opened at $120.72, trade in a 52‑week range of $67.91–$139.29, and the company has a market cap of $13.35 billion with a P/E of 17.57.

Mueller Industries (NYSE:MLI - Get Free Report) issued its quarterly earnings results on Tuesday. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.67, Zacks reports. Mueller Industries had a return on equity of 24.70% and a net margin of 18.31%.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $120.72 on Tuesday. Mueller Industries has a fifty-two week low of $67.91 and a fifty-two week high of $139.29. The business has a 50-day simple moving average of $115.73 and a two-hundred day simple moving average of $114.39. The firm has a market cap of $13.35 billion, a price-to-earnings ratio of 17.57 and a beta of 1.07.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.35 dividend. This is a positive change from Mueller Industries's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. Mueller Industries's payout ratio is presently 20.38%.

Analyst Ratings Changes

Several equities research analysts recently commented on MLI shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Mueller Industries in a report on Thursday, January 22nd. Wall Street Zen lowered Mueller Industries from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the completion of the sale, the director directly owned 90,664 shares in the company, valued at $10,581,395.44. The trade was a 1.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the business's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the sale, the director owned 41,645 shares of the company's stock, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mueller Industries

A number of large investors have recently made changes to their positions in MLI. NewEdge Advisors LLC grew its stake in shares of Mueller Industries by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company's stock valued at $1,121,000 after purchasing an additional 1,420 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Mueller Industries by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company's stock valued at $17,563,000 after purchasing an additional 3,316 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Mueller Industries during the 1st quarter valued at about $524,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 261 shares during the period. Finally, 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 valued at $289,000 after purchasing an additional 140 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.