Mueller Industries (NYSE:MLI) Sets New 52-Week High on Earnings Beat

Key Points

• Mueller Industries hit a new 52‑week high after reporting a Q beat — EPS $2.16 vs. $1.49 expected and revenue $1.19B vs. $1.10B, with revenue up 19.3% year‑over‑year and a net margin of 18.31%.
• The company raised its quarterly dividend to $0.35 (from $0.25), implying an $1.40 annualized payout and a ~1.0% yield with a payout ratio around 20.4%.
• Institutional ownership is very high (~94.5%) with large position increases from firms like AQR, UBS, Norges Bank and Goldman, while insiders sold modest stakes (insider ownership ≈2.3%); analyst consensus remains a Buy despite some downgrades.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $139.68 and last traded at $134.4230, with a volume of 172540 shares changing hands. The stock had previously closed at $134.72.

The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.67. Mueller Industries had a net margin of 18.31% and a return on equity of 24.70%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. The business's quarterly revenue was up 19.3% compared to the same quarter last year.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.35 per share. This is a positive change from Mueller Industries's previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, March 13th. Mueller Industries's payout ratio is currently 20.38%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Mueller Industries

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

Hedge Funds Weigh In On Mueller Industries

Several institutional investors and hedge funds have recently modified their holdings of MLI. AQR Capital Management LLC lifted its position in Mueller Industries by 181.4% during the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company's stock worth $261,439,000 after purchasing an additional 1,666,891 shares during the period. Norges Bank bought a new stake in Mueller Industries during the fourth quarter worth about $171,281,000. UBS Group AG lifted its position in Mueller Industries by 837.0% during the third quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company's stock worth $129,819,000 after purchasing an additional 1,146,919 shares during the period. Pictet Asset Management Holding SA lifted its position in Mueller Industries by 136.5% during the first quarter. Pictet Asset Management Holding SA now owns 1,674,939 shares of the industrial products company's stock worth $185,561,000 after purchasing an additional 966,840 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Mueller Industries by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,528,013 shares of the industrial products company's stock worth $290,216,000 after purchasing an additional 679,958 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

The company's 50-day moving average is $116.04 and its two-hundred day moving average is $114.63. The firm has a market cap of $14.87 billion, a P/E ratio of 19.57 and a beta of 1.07.

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.

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