Key Points
- Insider sale: Director Scott Jay Goldman sold 4,234 shares on Nov. 25 at an average price of $108.64 for proceeds of about $459,982, reducing his stake by 9.21% to 41,745 shares (SEC filing).
- Earnings and dividend: Mueller reported Q3 EPS of $1.88 (below the $1.99 consensus) while revenue rose 8% YoY to $1.08B and the company declared a $0.25 quarterly dividend (annualized $1.00) with ex-dividend date Dec. 5 and yield ≈0.9%.
- Market view: Shares trade near $110 with a market cap of $12.2B and a P/E of 16.4; two analysts rate the stock a Buy with a consensus price target of $105.
Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director Scott Jay Goldman sold 4,234 shares of the business's stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director owned 41,745 shares in the company, valued at $4,535,176.80. The trade was a 9.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Mueller Industries Trading Up 1.7%
Shares of Mueller Industries stock opened at $109.86 on Wednesday. The firm's 50 day simple moving average is $103.14 and its two-hundred day simple moving average is $91.44. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of 16.40 and a beta of 1.04. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $110.33.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing analysts' consensus estimates of $1.99 by ($0.11). Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $942.00 million. During the same period last year, the firm earned $1.48 earnings per share. Mueller Industries's quarterly revenue was up 8.0% compared to the same quarter last year.
Mueller Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Mueller Industries's dividend payout ratio is currently 14.93%.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries has a consensus rating of "Buy" and a consensus price target of $105.00.
Get Our Latest Report on Mueller Industries
Institutional Investors Weigh In On Mueller Industries
Several hedge funds have recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC raised its stake in shares of Mueller Industries by 121.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company's stock valued at $25,000 after buying an additional 138 shares during the last quarter. Brooklyn Investment Group raised its position in Mueller Industries by 267.3% during the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 278 shares in the last quarter. Rise Advisors LLC acquired a new position in Mueller Industries in the first quarter valued at approximately $30,000. Cary Street Partners Investment Advisory LLC boosted its position in Mueller Industries by 228.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company's stock worth $31,000 after purchasing an additional 215 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $34,000. 94.50% of the stock is owned by hedge funds and other institutional investors.
About Mueller Industries
(
Get Free Report)
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.
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