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.
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