Shares of Mueller Industries, Inc. (NYSE:MLI) have been assigned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Zacks has also assigned Mueller Industries an industry rank of 110 out of 255 based on the ratings given to its competitors.
A number of equities analysts have issued reports on MLI shares. TheStreet raised Mueller Industries from a “c” rating to a “b-” rating in a report on Friday, May 18th. Boenning Scattergood started coverage on Mueller Industries in a report on Friday, May 18th. They issued a “neutral” rating for the company.
Mueller Industries traded up $0.07, reaching $32.06, on Tuesday, according to MarketBeat Ratings. The stock had a trading volume of 140,616 shares, compared to its average volume of 242,353. Mueller Industries has a fifty-two week low of $25.26 and a fifty-two week high of $37.57. The company has a quick ratio of 2.35, a current ratio of 3.43 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.84 billion, a PE ratio of 21.52 and a beta of 1.44.
Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, July 24th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Mueller Industries had a return on equity of 16.10% and a net margin of 3.59%. The business had revenue of $662.77 million during the quarter, compared to analysts’ expectations of $663.41 million. equities research analysts expect that Mueller Industries will post 1.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. Mueller Industries’s payout ratio is presently 26.85%.
In other news, insider Daniel R. Corbin sold 3,000 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $32.44, for a total value of $97,320.00. Following the completion of the sale, the insider now owns 61,352 shares of the company’s stock, valued at $1,990,258.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Anthony Steinriede sold 2,500 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $31.96, for a total value of $79,900.00. Following the completion of the sale, the vice president now directly owns 9,669 shares of the company’s stock, valued at approximately $309,021.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,500 shares of company stock valued at $306,220. Insiders own 2.80% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of Mueller Industries in the first quarter valued at about $174,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Mueller Industries in the second quarter valued at about $203,000. CIBC Asset Management Inc acquired a new stake in shares of Mueller Industries in the second quarter valued at about $222,000. Global X Management Co. LLC increased its stake in shares of Mueller Industries by 108.9% in the first quarter. Global X Management Co. LLC now owns 8,335 shares of the industrial products company’s stock valued at $218,000 after buying an additional 4,345 shares during the period. Finally, Advisor Partners LLC acquired a new stake in shares of Mueller Industries in the second quarter valued at about $256,000. 90.73% of the stock is owned by institutional investors.
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.
Featured Story: Investing in Growth Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.com's FREE daily email newsletter.