Mueller Industries (MLI) Projected to Post Earnings on Tuesday

Mueller Industries (NYSE:MLI) is projected to post its results before the market opens on Tuesday, February 3rd. Analysts expect Mueller Industries to post earnings of $1.67 per share and revenue of $928.00 million for the quarter.

Mueller Industries Stock Up 0.0%

Shares of Mueller Industries stock opened at $134.48 on Thursday. The business has a 50 day moving average of $118.66 and a 200 day moving average of $104.60. Mueller Industries has a 52 week low of $66.84 and a 52 week high of $135.66. The company has a market cap of $14.93 billion, a PE ratio of 20.07 and a beta of 1.04.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.25 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.00 annualized dividend and a yield of 0.7%. Mueller Industries’s dividend payout ratio is 14.93%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Insider Activity

In related news, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the transaction, the director owned 41,745 shares in the company, valued at $4,535,176.80. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mueller Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Mueller Industries by 65.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,136 shares of the industrial products company’s stock worth $90,000 after acquiring an additional 449 shares during the period. Larson Financial Group LLC boosted its stake in Mueller Industries by 51.7% in the 3rd quarter. Larson Financial Group LLC now owns 915 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 312 shares during the period. Employees Retirement System of Texas boosted its position in shares of Mueller Industries by 137.4% during the third quarter. Employees Retirement System of Texas now owns 1,009 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 584 shares during the last quarter. Finally, Quarry LP lifted its stake in Mueller Industries by 14.9% in the 3rd quarter. Quarry LP now owns 1,461 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.