Shares of Mueller Industries, Inc. (NYSE:MLI) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Zacks has also assigned Mueller Industries an industry rank of 153 out of 256 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered shares of Mueller Industries from a “hold” rating to a “strong sell” rating in a research report on Saturday, April 27th.
Mueller Industries stock opened at $28.43 on Tuesday. Mueller Industries has a 52 week low of $21.49 and a 52 week high of $34.24. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.99 and a current ratio of 3.56. The stock has a market capitalization of $1.60 billion, a P/E ratio of 15.28 and a beta of 1.36.
Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.29). Mueller Industries had a return on equity of 19.32% and a net margin of 3.87%. The business had revenue of $661.80 million during the quarter. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Analysts forecast that Mueller Industries will post 1.45 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a $0.10 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.41%. Mueller Industries’s dividend payout ratio is presently 21.51%.
In other Mueller Industries news, Director Scott Jay Goldman acquired 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average cost of $27.35 per share, for a total transaction of $31,452.50. Following the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $340,507.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in MLI. Norges Bank purchased a new position in Mueller Industries in the 4th quarter valued at about $17,327,000. Victory Capital Management Inc. lifted its holdings in shares of Mueller Industries by 18.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,585,780 shares of the industrial products company’s stock worth $37,044,000 after acquiring an additional 242,439 shares during the period. AltraVue Capital LLC purchased a new position in shares of Mueller Industries during the 4th quarter worth about $4,904,000. Prudential Financial Inc. lifted its holdings in shares of Mueller Industries by 61.0% during the 4th quarter. Prudential Financial Inc. now owns 405,351 shares of the industrial products company’s stock worth $9,469,000 after acquiring an additional 153,657 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Mueller Industries by 1.6% during the 4th quarter. BlackRock Inc. now owns 8,294,970 shares of the industrial products company’s stock worth $193,770,000 after acquiring an additional 131,455 shares during the period. Institutional investors own 92.06% 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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