Analysts Expect Mueller Industries, Inc. (NYSE:MLI) to Announce $0.30 Earnings Per Share

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Equities analysts expect that Mueller Industries, Inc. (NYSE:MLI) will report $0.30 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Mueller Industries’ earnings. Mueller Industries reported earnings of $0.47 per share during the same quarter last year, which indicates a negative year over year growth rate of 36.2%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 4th.

On average, analysts expect that Mueller Industries will report full year earnings of $1.52 per share for the current year. For the next year, analysts expect that the company will report earnings of $1.88 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Mueller Industries.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. The company had revenue of $608.60 million for the quarter. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share.

A number of equities research analysts have recently issued reports on the stock. ValuEngine cut shares of Mueller Industries from a “sell” rating to a “strong sell” rating in a report on Thursday, October 17th. TheStreet raised shares of Mueller Industries from a “c+” rating to a “b-” rating in a report on Thursday. Finally, Zacks Investment Research cut shares of Mueller Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th.

In related news, Director Gennaro J. Fulvio sold 10,383 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $26.62, for a total value of $276,395.46. Following the transaction, the director now owns 2,000 shares in the company, valued at approximately $53,240. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 14,992 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $32.01, for a total transaction of $479,893.92. Following the completion of the transaction, the chief executive officer now owns 532,666 shares in the company, valued at approximately $17,050,638.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,062 shares of company stock worth $1,397,469. 3.30% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Systematic Financial Management LP grew its position in shares of Mueller Industries by 20.0% during the 3rd quarter. Systematic Financial Management LP now owns 389,275 shares of the industrial products company’s stock worth $11,164,000 after purchasing an additional 64,781 shares in the last quarter. Eqis Capital Management Inc. grew its position in shares of Mueller Industries by 26.9% during the 3rd quarter. Eqis Capital Management Inc. now owns 12,327 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 2,616 shares in the last quarter. Mason Street Advisors LLC grew its position in shares of Mueller Industries by 1.8% during the 3rd quarter. Mason Street Advisors LLC now owns 19,241 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 339 shares in the last quarter. First Trust Advisors LP grew its position in shares of Mueller Industries by 96.6% during the 3rd quarter. First Trust Advisors LP now owns 483,009 shares of the industrial products company’s stock worth $13,853,000 after purchasing an additional 237,292 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Mueller Industries by 14.3% during the 3rd quarter. California Public Employees Retirement System now owns 143,860 shares of the industrial products company’s stock worth $4,126,000 after purchasing an additional 18,003 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

Shares of MLI stock traded up $0.20 on Thursday, reaching $31.87. The stock had a trading volume of 132,816 shares, compared to its average volume of 225,069. The company has a quick ratio of 1.84, a current ratio of 2.96 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average is $29.24 and its two-hundred day moving average is $28.44. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 17.13 and a beta of 1.38. Mueller Industries has a 12 month low of $21.49 and a 12 month high of $34.24.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is currently 21.51%.

About Mueller Industries

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

Further Reading: What is the return on assets (ROA) ratio?

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