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

Key Points

• Mueller Industries reached a new 52-week high, trading at $98.74, with a market capitalization of $10.94 billion and a P/E ratio of 15.69.
• The company reported $1.96 EPS for the latest quarter, outperforming analysts' expectations of $1.62, along with a revenue of $1.14 billion, marking a 14.1% year-over-year increase.
• Mueller Industries announced a quarterly dividend of $0.25, representing a 1.0% dividend yield, with an ex-dividend date set for September 5th.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $98.74 and last traded at $98.54, with a volume of 56411 shares changing hands. The stock had previously closed at $97.57.

Mueller Industries Trading Up 0.0%

The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 15.69 and a beta of 1.04. The company's fifty day moving average is $90.75 and its two-hundred day moving average is $81.55.

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

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Mueller Industries's payout ratio is currently 15.87%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction 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 transaction, the director directly owned 92,664 shares in the company, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MLI. Golden State Wealth Management LLC increased its stake in shares of Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after acquiring an additional 168 shares during the period. Brooklyn Investment Group increased its stake in shares of Mueller Industries by 267.3% during the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after acquiring an additional 278 shares during the period. Rise Advisors LLC acquired a new position in shares of Mueller Industries during the first quarter worth about $30,000. Wayfinding Financial LLC acquired a new position in shares of Mueller Industries during the first quarter worth about $34,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Mueller Industries during the second quarter worth about $34,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

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.