Key Points
- Director John Hansen sold 2,000 Mueller Industries shares at an average price of $55.40, generating $110,800 and reducing his ownership by 1.10% to 179,078 shares.
- Mueller Industries reported quarterly EPS of $1.00, below the $1.08 consensus estimate, while revenue rose 31.6% year over year to $1.42 billion, exceeding expectations.
- Analysts maintain a broadly positive outlook, with an average “Buy” rating and a $75.50 consensus price target; institutional investors own 94.5% of the stock.
Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director John Hansen sold 2,000 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $55.40, for a total transaction of $110,800.00. Following the sale, the director owned 179,078 shares of the company's stock, valued at approximately $9,920,921.20. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Mueller Industries Stock Performance
Shares of NYSE MLI opened at $55.21 on Tuesday. Mueller Industries, Inc. has a 52-week low of $52.00 and a 52-week high of $71.12. The company has a market cap of $12.03 billion, a PE ratio of 14.16 and a beta of 1.08. The firm's 50 day moving average price is $60.20 and its 200-day moving average price is $62.21.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.08). Mueller Industries had a net margin of 17.26% and a return on equity of 25.23%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company earned $1.88 earnings per share. The company's revenue for the quarter was up 31.6% compared to the same quarter last year.
Mueller Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $0.1750 per share. The ex-dividend date was Friday, September 4th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.3%. Mueller Industries's payout ratio is 17.95%.
Analyst Ratings Changes
Several research firms have commented on MLI. Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Thursday, July 16th. Wall Street Zen raised shares of Mueller Industries from a "hold" rating to a "buy" rating in a research note on Sunday. Freedom Broker dropped their price target on Mueller Industries from $80.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Industries in a research note on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, Mueller Industries has an average rating of "Buy" and a consensus target price of $75.50.
View Our Latest Analysis on MLI
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of MLI. BlackRock Inc. acquired a new stake in Mueller Industries during the 2nd quarter valued at approximately $1,437,555,000. William Blair Investment Management LLC acquired a new position in Mueller Industries during the second quarter valued at $244,156,000. Bank of New York Mellon Corp purchased a new stake in Mueller Industries in the second quarter valued at $131,286,000. Jupiter Topco LLC acquired a new stake in Mueller Industries during the 2nd quarter worth about $95,120,000. Finally, Caisse de depot et placement du Quebec purchased a new position in shares of Mueller Industries during the 2nd quarter valued at about $76,653,000. 94.50% of the stock is owned by institutional investors and hedge funds.
Mueller Industries Company Profile
(
Get Free Report)
Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.
The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.
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