Mueller Industries, Inc. (NYSE:MLI) has earned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Zacks has also given Mueller Industries an industry rank of 117 out of 255 based on the ratings given to related companies.
Separately, ValuEngine downgraded shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Monday, September 17th.
Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. The firm had revenue of $662.77 million for the quarter, compared to analyst estimates of $663.41 million. Mueller Industries had a net margin of 3.59% and a return on equity of 16.10%. sell-side analysts forecast that Mueller Industries will post 1.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 6th. This represents a $0.40 dividend on an annualized basis and a yield of 1.40%. Mueller Industries’s payout ratio is 26.85%.
In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $32.25, for a total value of $129,000.00. Following the completion of the sale, the director now owns 45,607 shares in the company, valued at approximately $1,470,825.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Jay Goldman acquired 1,000 shares of the business’s stock in a transaction on Friday, August 24th. The stock was acquired at an average price of $33.24 per share, with a total value of $33,240.00. Following the acquisition, the director now owns 11,000 shares in the company, valued at approximately $365,640. The disclosure for this purchase can be found here. In the last quarter, insiders sold 9,500 shares of company stock valued at $306,220. 2.80% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in MLI. Quantbot Technologies LP acquired a new stake in shares of Mueller Industries during the 1st quarter worth approximately $174,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $203,000. CIBC Asset Management Inc acquired a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $222,000. Advisor Partners LLC acquired a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $256,000. Finally, SG Americas Securities LLC increased its holdings in shares of Mueller Industries by 101.4% during the 1st quarter. SG Americas Securities LLC now owns 10,694 shares of the industrial products company’s stock worth $280,000 after buying an additional 5,384 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.
Mueller Industries Company Profile
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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