FY2021 EPS Estimates for Mueller Industries, Inc. (NYSE:MLI) Boosted by Analyst

Thursday, July 22, 2021 | MarketBeat

Mueller Industries, Inc. (NYSE:MLI) - Boenning Scattergood increased their FY2021 earnings estimates for shares of Mueller Industries in a report released on Tuesday, July 20th. Boenning Scattergood analyst R. Connors now expects that the industrial products company will post earnings of $6.25 per share for the year, up from their previous estimate of $4.10. Boenning Scattergood also issued estimates for Mueller Industries' FY2022 earnings at $6.60 EPS.

Separately, Zacks Investment Research lowered shares of Mueller Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 23rd.

Mueller Industries stock opened at $43.34 on Thursday. Mueller Industries has a 52-week low of $26.07 and a 52-week high of $48.06. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 8.95 and a beta of 1.17. The business's fifty day simple moving average is $44.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.99 and a quick ratio of 1.40. Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, April 20th. The industrial products company reported $1.11 EPS for the quarter. Mueller Industries had a net margin of 8.03% and a return on equity of 31.43%. The company had revenue of $818.15 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 18th. Investors of record on Friday, June 4th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, June 3rd. Mueller Industries's dividend payout ratio is currently 21.14%.

In other news, CEO Gregory L. Christopher sold 25,000 shares of the stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $48.00, for a total transaction of $1,200,000.00. Following the sale, the chief executive officer now owns 426,165 shares of the company's stock, valued at $20,455,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.90% of the company's stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in Mueller Industries in the fourth quarter valued at approximately $25,000. Berman Capital Advisors LLC increased its stake in Mueller Industries by 1,568.1% in the first quarter. Berman Capital Advisors LLC now owns 784 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 737 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Mueller Industries in the first quarter valued at approximately $82,000. Federated Hermes Inc. grew its position in shares of Mueller Industries by 123.0% during the first quarter. Federated Hermes Inc. now owns 2,243 shares of the industrial products company's stock worth $93,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Mueller Industries by 3,083.5% during the first quarter. Captrust Financial Advisors now owns 3,661 shares of the industrial products company's stock worth $152,000 after acquiring an additional 3,546 shares during the last quarter. 88.33% 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. The company's Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

Further Reading: Support Level

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Mueller Industries right now?

Before you consider Mueller Industries, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mueller Industries wasn't on the list.

While Mueller Industries currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.