Mueller Industries, Inc. (NYSE:MLI) Expected to Announce Earnings of $0.51 Per Share

Share on StockTwits

Analysts expect that Mueller Industries, Inc. (NYSE:MLI) will report earnings per share (EPS) of $0.51 for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Mueller Industries’ earnings. Mueller Industries posted earnings of $0.58 per share in the same quarter last year, which would suggest a negative year over year growth rate of 12.1%. The firm is expected to issue its next quarterly earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that Mueller Industries will report full-year earnings of $1.45 per share for the current fiscal year. For the next financial year, analysts expect that the company will post earnings of $1.75 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Mueller Industries.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.29). The firm had revenue of $661.80 million during the quarter. Mueller Industries had a return on equity of 19.32% and a net margin of 3.87%. The company’s revenue was up 3.4% on a year-over-year basis.

Separately, Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th.

Mueller Industries stock traded up $0.60 during trading hours on Tuesday, hitting $28.68. The company had a trading volume of 158,177 shares, compared to its average volume of 218,699. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 15.42 and a beta of 1.36. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.99 and a current ratio of 3.56. Mueller Industries has a 1 year low of $21.49 and a 1 year high of $34.24. The business’s 50-day simple moving average is $28.30.

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 1.39%. Mueller Industries’s payout ratio is 21.51%.

In other news, Director Scott Jay Goldman bought 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price of $27.35 per share, with a total value of $31,452.50. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $340,507.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of MLI. California Public Employees Retirement System boosted its stake in shares of Mueller Industries by 1.3% in the 4th quarter. California Public Employees Retirement System now owns 179,381 shares of the industrial products company’s stock worth $4,190,000 after buying an additional 2,303 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Mueller Industries by 1.6% during the fourth quarter. BlackRock Inc. now owns 8,294,970 shares of the industrial products company’s stock worth $193,770,000 after purchasing an additional 131,455 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Mueller Industries by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 867,440 shares of the industrial products company’s stock worth $20,264,000 after purchasing an additional 4,472 shares during the period. Texas Permanent School Fund boosted its holdings in shares of Mueller Industries by 4.1% during the fourth quarter. Texas Permanent School Fund now owns 37,739 shares of the industrial products company’s stock worth $882,000 after purchasing an additional 1,503 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Mueller Industries by 19.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,344 shares of the industrial products company’s stock worth $288,000 after purchasing an additional 1,976 shares during the period. Institutional investors and hedge funds own 92.00% of the company’s stock.

Mueller Industries Company Profile

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.

Featured Story: Hedge Funds

Get a free copy of the Zacks research report on Mueller Industries (MLI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Mueller Industries (NYSE:MLI)

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.



Latest News

ShowHand  Reaches Market Cap of $23,094.00
ShowHand Reaches Market Cap of $23,094.00
CloakCoin One Day Trading Volume Reaches $9,915.00
CloakCoin One Day Trading Volume Reaches $9,915.00
Brokerages Set TransDigm Group Incorporated  Price Target at $540.42
Brokerages Set TransDigm Group Incorporated Price Target at $540.42
$159.33 Million in Sales Expected for Global Eagle Entertainment Inc  This Quarter
$159.33 Million in Sales Expected for Global Eagle Entertainment Inc This Quarter
FirstBlood Tops 24 Hour Trading Volume of $15,839.00
FirstBlood Tops 24 Hour Trading Volume of $15,839.00
Strategic Wealth Partners Ltd. Has $103,000 Holdings in Valero Energy Co.
Strategic Wealth Partners Ltd. Has $103,000 Holdings in Valero Energy Co.


 
© 2006-2019 Zolmax.