TheStreet upgraded shares of Mueller Industries (NYSE:MLI) from a c+ rating to a b- rating in a report issued on Thursday morning, TheStreetRatingsTable reports.
Several other research firms have also recently issued reports on MLI. Zacks Investment Research cut shares of Mueller Industries from a strong-buy rating to a hold rating in a research report on Wednesday, September 25th. ValuEngine cut shares of Mueller Industries from a sell rating to a strong sell rating in a research report on Thursday, October 17th.
Shares of NYSE:MLI traded up $0.20 during trading on Thursday, hitting $31.87. The company’s stock had a trading volume of 132,816 shares, compared to its average volume of 225,069. The company has a market capitalization of $1.79 billion, a PE ratio of 17.13 and a beta of 1.38. The business has a 50 day moving average price of $29.24 and a two-hundred day moving average price of $28.44. Mueller Industries has a fifty-two week low of $21.49 and a fifty-two week high of $34.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.84 and a current ratio of 2.96.
Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The business 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%. Mueller Industries’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. As a group, equities analysts expect that Mueller Industries will post 1.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is currently 21.51%.
In related news, CEO Gregory L. Christopher sold 14,992 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $32.01, for a total value of $479,893.92. Following the completion of the sale, the chief executive officer now directly owns 532,666 shares of the company’s stock, valued at $17,050,638.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gennaro J. Fulvio sold 10,383 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 2,000 shares of the company’s stock, valued at $53,240. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,062 shares of company stock valued at $1,397,469. Corporate insiders own 3.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MLI. Nuveen Asset Management LLC purchased a new stake in Mueller Industries in the second quarter valued at $14,709,000. First Trust Advisors LP lifted its position in Mueller Industries by 96.6% in the third quarter. First Trust Advisors LP now owns 483,009 shares of the industrial products company’s stock valued at $13,853,000 after acquiring an additional 237,292 shares during the last quarter. Morgan Stanley lifted its position in Mueller Industries by 59.4% in the second quarter. Morgan Stanley now owns 268,572 shares of the industrial products company’s stock valued at $7,861,000 after acquiring an additional 100,044 shares during the last quarter. Invesco Ltd. lifted its position in 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 acquiring an additional 88,215 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in 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 during the last quarter. 90.79% of the stock is owned by hedge funds and other 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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