Zacks: Brokerages Expect Mueller Industries, Inc. (NYSE:MLI) to Post $0.44 EPS

Equities analysts expect Mueller Industries, Inc. (NYSE:MLI) to post earnings of $0.44 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Mueller Industries’ earnings. Mueller Industries posted earnings of $0.34 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 29.4%. The firm is expected to issue its next earnings report on Tuesday, October 22nd.

According to Zacks, analysts expect that Mueller Industries will report full year earnings of $1.52 per share for the current financial year. For the next year, analysts expect that the company will post earnings of $1.88 per share. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Mueller Industries.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.07. Mueller Industries had a net margin of 3.66% and a return on equity of 19.00%. The business had revenue of $666.93 million during the quarter. During the same period last year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis.

Several research firms have recently commented on MLI. ValuEngine lowered shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Mueller Industries from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Saturday, July 27th.

In other Mueller Industries news, Chairman Gregory L. Christopher sold 2,804 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.02, for a total transaction of $86,980.08. Following the completion of the transaction, the chairman now directly owns 586,256 shares of the company’s stock, valued at approximately $18,185,661.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gregory L. Christopher sold 3,009 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $31.00, for a total transaction of $93,279.00. Following the transaction, the chairman now directly owns 526,069 shares of the company’s stock, valued at $16,308,139. The disclosure for this sale can be found here. Insiders have sold a total of 15,813 shares of company stock valued at $484,359 over the last three months. 3.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its stake in Mueller Industries by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,734 shares of the industrial products company’s stock valued at $665,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System raised its position in shares of Mueller Industries by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 87,839 shares of the industrial products company’s stock worth $2,571,000 after buying an additional 489 shares in the last quarter. Uncommon Cents Investing LLC raised its position in shares of Mueller Industries by 1.6% during the 1st quarter. Uncommon Cents Investing LLC now owns 39,860 shares of the industrial products company’s stock worth $1,249,000 after buying an additional 610 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Mueller Industries by 8.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,935 shares of the industrial products company’s stock worth $185,000 after buying an additional 627 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. raised its position in shares of Mueller Industries by 4.6% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 14,340 shares of the industrial products company’s stock worth $449,000 after buying an additional 634 shares in the last quarter. 91.61% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE MLI traded down $0.12 during midday trading on Thursday, hitting $25.99. The company’s stock had a trading volume of 261,971 shares, compared to its average volume of 229,698. Mueller Industries has a 1-year low of $21.49 and a 1-year high of $34.24. The business has a fifty day simple moving average of $28.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.91 and a current ratio of 3.24. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 13.97 and a beta of 1.35.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, September 5th. Mueller Industries’s payout ratio is 21.51%.

Mueller Industries Company Profile

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

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