TheStreet upgraded shares of Mueller Industries (NYSE:MLI) from a c+ rating to a b- rating in a report released on Thursday, TheStreetRatingsTable reports.
A number of other equities research analysts have also recently commented on MLI. ValuEngine cut Mueller Industries from a sell rating to a strong sell rating in a research note on Thursday, October 17th. Zacks Investment Research cut Mueller Industries from a strong-buy rating to a hold rating in a research note on Wednesday, September 25th.
Shares of Mueller Industries stock traded up $0.20 during trading on Thursday, reaching $31.87. 132,816 shares of the company were exchanged, 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. Mueller Industries has a twelve month low of $21.49 and a twelve month high of $34.24. The business has a 50-day moving average price of $29.24 and a 200-day moving average price of $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 (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Mueller Industries had a return on equity of 20.22% and a net margin of 4.07%. The business had revenue of $608.60 million during the quarter. During the same period last year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts forecast that Mueller Industries will post 1.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is presently 21.51%.
In other Mueller Industries news, CEO Gregory L. Christopher sold 14,992 shares of Mueller Industries stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $32.01, for a total transaction of $479,893.92. Following the transaction, the chief executive officer now directly owns 532,666 shares in the company, valued at $17,050,638.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 4,792 shares of Mueller Industries stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $31.01, for a total value of $148,599.92. Following the transaction, the chief executive officer now owns 562,053 shares in the company, valued at $17,429,263.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,062 shares of company stock worth $1,397,469. Corporate insiders own 3.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MLI. Nuveen Asset Management LLC bought a new position in Mueller Industries during the second quarter worth about $14,709,000. First Trust Advisors LP lifted its holdings in Mueller Industries by 96.6% during the third quarter. First Trust Advisors LP now owns 483,009 shares of the industrial products company’s stock worth $13,853,000 after acquiring an additional 237,292 shares in the last quarter. Morgan Stanley lifted its holdings in Mueller Industries by 59.4% during the second quarter. Morgan Stanley now owns 268,572 shares of the industrial products company’s stock worth $7,861,000 after acquiring an additional 100,044 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Mueller Industries by 24.2% in the second quarter. Invesco Ltd. now owns 452,196 shares of the industrial products company’s stock valued at $13,236,000 after purchasing an additional 88,215 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings 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 purchasing an additional 75,297 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.
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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