Zacks: Brokerages Expect Mueller Industries, Inc. (NYSE:MLI) Will Post Earnings of $0.30 Per Share
Wall Street analysts forecast that Mueller Industries, Inc. (NYSE:MLI) will post earnings per share (EPS) of $0.30 for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Mueller Industries’ earnings. Mueller Industries posted earnings of $0.47 per share during the same quarter last year, which would indicate a negative year over year growth rate of 36.2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, February 4th.
According to Zacks, analysts expect that Mueller Industries will report full-year earnings of $1.52 per share for the current fiscal year. For the next year, analysts expect that the business will post earnings of $1.88 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Mueller Industries.
Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The company had revenue of $608.60 million during the quarter. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS.
Shares of MLI stock traded up $0.20 during trading on Thursday, reaching $31.87. The company’s stock had a trading volume of 132,816 shares, compared to its average volume of 225,069. The business has a fifty day moving average price of $29.24 and a 200-day moving average price of $28.44. 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 company has a market cap of $1.79 billion, a price-to-earnings ratio of 17.13 and a beta of 1.38. Mueller Industries has a one year low of $21.49 and a one year high of $34.24.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is currently 21.51%.
In other news, Director John B. Hansen sold 1,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $30.89, for a total value of $46,335.00. Following the transaction, the director now directly owns 44,107 shares of the company’s stock, valued at $1,362,465.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gennaro J. Fulvio sold 10,383 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $26.62, for a total transaction of $276,395.46. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $53,240. The disclosure for this sale can be found here. Insiders have sold 46,062 shares of company stock worth $1,397,469 over the last ninety days. Insiders own 3.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MLI. Pacer Advisors Inc. acquired a new position in shares of Mueller Industries in the second quarter valued at about $498,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Mueller Industries by 14.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,000 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 1,000 shares in the last quarter. Eqis Capital Management Inc. grew its stake in shares of Mueller Industries by 19.8% in the second quarter. Eqis Capital Management Inc. now owns 9,711 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 1,606 shares in the last quarter. United Services Automobile Association grew its stake in shares of Mueller Industries by 2.8% in the second quarter. United Services Automobile Association now owns 608,078 shares of the industrial products company’s stock valued at $17,798,000 after acquiring an additional 16,660 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Mueller Industries by 1.8% in the second quarter. Gamco Investors INC. ET AL now owns 4,322,590 shares of the industrial products company’s stock valued at $126,522,000 after acquiring an additional 75,297 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors.
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.
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