Equities analysts forecast that Mueller Industries, Inc. (NYSE:MLI) will announce earnings per share (EPS) of $0.22 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Mueller Industries’ earnings. Mueller Industries reported earnings of $0.10 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 120%. The firm is scheduled to announce its next earnings report on Tuesday, February 5th.
According to Zacks, analysts expect that Mueller Industries will report full year earnings of $1.50 per share for the current year. For the next year, analysts forecast that the firm will report earnings of $1.70 per share. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Mueller Industries.
Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 23rd. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.04). The firm had revenue of $645.96 million during the quarter, compared to the consensus estimate of $583.39 million. Mueller Industries had a return on equity of 15.29% and a net margin of 3.37%.
Shares of Mueller Industries stock traded down $0.21 during trading on Tuesday, hitting $24.83. The stock had a trading volume of 146,500 shares, compared to its average volume of 238,334. The firm has a market capitalization of $1.46 billion, a PE ratio of 16.66 and a beta of 1.50. The company has a current ratio of 3.12, a quick ratio of 1.83 and a debt-to-equity ratio of 0.87. Mueller Industries has a 12 month low of $23.32 and a 12 month high of $37.57.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 1.61%. Mueller Industries’s payout ratio is 26.85%.
In related news, Director Terry Hermanson acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The stock was bought at an average price of $25.04 per share, for a total transaction of $100,160.00. Following the acquisition, the director now directly owns 29,126 shares of the company’s stock, valued at approximately $729,315.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Jay Goldman acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were bought at an average price of $33.24 per share, with a total value of $33,240.00. Following the acquisition, the director now directly owns 11,000 shares in the company, valued at $365,640. The disclosure for this purchase can be found here. Insiders have purchased a total of 16,000 shares of company stock valued at $413,900 in the last quarter. 2.80% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Mueller Industries during the 2nd quarter valued at about $359,000. Bank of New York Mellon Corp lifted its holdings in Mueller Industries by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 827,959 shares of the industrial products company’s stock valued at $24,434,000 after buying an additional 10,289 shares in the last quarter. United Services Automobile Association lifted its holdings in Mueller Industries by 20.8% during the 2nd quarter. United Services Automobile Association now owns 610,378 shares of the industrial products company’s stock valued at $18,012,000 after buying an additional 105,240 shares in the last quarter. Rhumbline Advisers increased its position in Mueller Industries by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 157,900 shares of the industrial products company’s stock valued at $4,660,000 after purchasing an additional 2,090 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Mueller Industries during the 2nd quarter valued at about $203,000. Institutional investors own 92.83% 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.
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