Key Points
- CEO Gregory Christopher sold 200,000 Mueller Industries shares at an average price of $68.44, generating $13.688 million and reducing his stake by 11.12% to 1,598,850 shares.
- Mueller Industries reported quarterly EPS of $1.13, beating estimates by $0.04, while revenue reached $1.43 billion—up 25.5% year over year and above expectations.
- The company declared a quarterly dividend of $0.175 per share, equivalent to $0.70 annually and a 1.0% yield; analysts maintain a consensus “Buy” rating with a $75 average price target.
Mueller Industries, Inc. (NYSE:MLI - Get Free Report) CEO Gregory Christopher sold 70,000 shares of Mueller Industries stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $69.08, for a total value of $4,835,600.00. Following the completion of the transaction, the chief executive officer directly owned 70,000 shares in the company, valued at $4,835,600. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Mueller Industries Stock Performance
NYSE:MLI opened at $68.31 on Thursday. The firm has a market cap of $15.11 billion, a PE ratio of 17.79 and a beta of 1.11. Mueller Industries, Inc. has a fifty-two week low of $44.97 and a fifty-two week high of $71.12. The business has a 50 day moving average price of $64.10 and a 200-day moving average price of $62.62.
Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.04. Mueller Industries had a net margin of 18.25% and a return on equity of 25.68%. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business's revenue was up 25.5% on a year-over-year basis.
Mueller Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 4th. Mueller Industries's dividend payout ratio (DPR) is 18.23%.
Analyst Ratings Changes
Several brokerages have recently commented on MLI. Wall Street Zen downgraded shares of Mueller Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Thursday, July 16th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $75.00.
Read Our Latest Report on Mueller Industries
Institutional Trading of Mueller Industries
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp raised its stake in Mueller Industries by 2.2% in the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company's stock worth $400,000 after buying an additional 75 shares in the last quarter. US Asset Management LLC grew its holdings in shares of Mueller Industries by 3.5% during the 4th quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company's stock worth $278,000 after acquiring an additional 81 shares during the period. SJS Investment Consulting Inc. raised its position in shares of Mueller Industries by 28.4% in the 1st quarter. SJS Investment Consulting Inc. now owns 371 shares of the industrial products company's stock worth $41,000 after acquiring an additional 82 shares in the last quarter. Root Financial Partners LLC lifted its stake in shares of Mueller Industries by 19.6% in the 1st quarter. Root Financial Partners LLC now owns 512 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 84 shares during the period. Finally, Florida Financial Advisors LLC boosted its position in shares of Mueller Industries by 3.7% during the fourth quarter. Florida Financial Advisors LLC now owns 2,510 shares of the industrial products company's stock valued at $288,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.
About Mueller Industries
(
Get Free Report)
Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.
The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.
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