Mueller Industries, Inc. manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. The company's Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling. It also resells steel pipes, brass and plastic plumbing valves, malleable iron fittings and faucets, and plumbing specialties; and supplies water tubes. This segment sells its products to wholesalers in the plumbing and refrigeration markets, distributors to the manufactured housing and recreational vehicle industries, building material retailers, and air-conditioning original equipment manufacturers (OEMs). The company's Industrial Metals segment manufactures brass, bronze, and copper alloy rods; copper bar and alloy shapes; plumbing brass, valves, and fittings; cold-form aluminum and copper products; machining of aluminum, steel, brass, and cast iron impacts and castings; brass and aluminum forgings; brass, aluminum, and stainless-steel valves; fluid control solutions; and gas train assembles to OEMs in the industrial, construction, HVAC, plumbing, and refrigeration markets. Its Climate segment offers valves, protection devices, brass fittings, and tubular assemblies and fabrications for various OEMs in the commercial HVAC and refrigeration markets; high-pressure components and accessories for the air-conditioning and refrigeration markets; coaxial heat exchangers and twisted tubes for the HVAC, geothermal, refrigeration, swimming pool heat pump, marine, ice machine, commercial boiler, and heat reclamation markets; insulated HVAC flexible duct systems; and brazed manifolds, headers, and distributor assemblies. The company was founded in 1917 and is headquartered in Collierville, Tennessee.
IPO Year:
Exchange: NYSE
Website: muellerindustries.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/11/2024 | $105.00 | Neutral → Buy | Northcoast |
| 1/19/2024 | Buy → Neutral | Northcoast |
NEW YORK, Nov. 21, 2024 /PRNewswire/ -- S&P MidCap 400 constituent Texas Pacific Land Corp. (NYSE:TPL) will replace Marathon Oil Corp. (NYSE:MRO) in the S&P 500, S&P SmallCap 600 constituent Mueller Industries Inc. (NYSE:MLI) will replace Texas Pacific Land in the S&P MidCap 400, and Atlas Energy Solutions Inc. (NYSE:AESI) will replace Mueller Industries in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, November 26. S&P 500 & 100 constituent ConocoPhillips (NYSE:COP) is acquiring Marathon Oil in a deal expected to close November 22, pending final closing conditions. Texas Pacific Land and Mueller Industries have company level market capitalizations that are more r
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Northcoast upgraded Mueller Industries from Neutral to Buy and set a new price target of $105.00
Northcoast downgraded Mueller Industries from Buy to Neutral
NEW YORK, Nov. 21, 2024 /PRNewswire/ -- S&P MidCap 400 constituent Texas Pacific Land Corp. (NYSE:TPL) will replace Marathon Oil Corp. (NYSE:MRO) in the S&P 500, S&P SmallCap 600 constituent Mueller Industries Inc. (NYSE:MLI) will replace Texas Pacific Land in the S&P MidCap 400, and Atlas Energy Solutions Inc. (NYSE:AESI) will replace Mueller Industries in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, November 26. S&P 500 & 100 constituent ConocoPhillips (NYSE:COP) is acquiring Marathon Oil in a deal expected to close November 22, pending final closing conditions. Texas Pacific Land and Mueller Industries have company level market capitalizations that are more r
Mueller Industries, Inc. (NYSE:MLI) announced today that its Board of Directors has declared a regular cash dividend on its common stock of 20 cents per share. The dividend will be paid on December 20, 2024 to shareholders of record on December 6, 2024. Mueller Industries, Inc. (NYSE:MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East. Statements in this release that are not strictly historical may be "for
Mueller Industries, Inc. (NYSE:MLI) announces results for the third quarter of 2024. Comparisons are to the third quarter of 2023. Net Sales of $997.8 million versus $819.8 million Operating Income of $206.7 million versus $181.0 million Earnings Before Taxes of $217.8 million versus $189.0 million Net Income of $168.7 million versus $132.7 million Diluted EPS of $1.48 versus $1.171 Third Quarter Financial and Operating Highlights: COMEX copper averaged $4.23 per pound during the quarter, 12.0% higher than in the third quarter of 2023. The increase in net sales was attributable to the inclusion of $102.4 million of sales from recently acquired businesses, as well as the high
Mueller Industries, Inc. (NYSE:MLI) today announced that it has acquired Elkhart Products Corporation (EPC). EPC is a U.S. manufacturer of copper solder fittings, with two manufacturing locations in Elkhart, Indiana, and Fayetteville, Arkansas. Regarding the acquisition, Greg Christopher, Mueller's CEO said, "We expect the addition of EPC to significantly accelerate the recovery of our Covington, Tennessee -based copper fittings business, which was substantially impacted by a tornado in March 2023. The acquisition will expand and complement our current business, while also providing redundant capabilities in the manufacturing of solder fittings." Mueller Industries, Inc. (NYSE:MLI) is a
Mueller Industries, Inc. (NYSE:MLI) announced today that its Board of Directors has declared a regular cash dividend on its common stock of 20 cents per share. The dividend will be paid on September 20, 2024 to shareholders of record on September 6, 2024. Mueller Industries, Inc. (NYSE:MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East. Statements in this release that are not strictly historical may be
Mueller Industries, Inc. (NYSE:MLI) announces results for the second quarter of 2024. Comparisons are to the second quarter of 2023. Net Sales of $997.7 million versus $897.0 million Operating Income of $210.0 million versus $210.7 million Earnings Before Taxes of $222.9 million versus $241.0 million Net Income of $160.2 million versus $177.7 million Diluted EPS of $1.41 versus $1.561 Second Quarter Financial and Operating Highlights: COMEX copper averaged $4.55 per pound during the quarter, 18.4% higher than in the second quarter of 2023. The increase in net sales was attributable to higher unit shipments in most of our businesses, price increases tied to higher cop
Mueller Industries, Inc. (NYSE:MLI) today announced that it has completed its acquisition of Nehring Electrical Works Company and certain of its affiliated companies (collectively, "Nehring"). Founded in 1912 and headquartered in DeKalb, Illinois, Nehring produces high-quality wire and cable solutions for the utility, telecommunication, electrical distribution, and OEM markets. The acquisition of Nehring provides a substantial platform for long-term growth in the electrical and power infrastructure space, and complements the other critical infrastructure sectors already supported by Mueller. This transaction aligns with Mueller's acquisition strategy to target high-quality businesses with
Mueller Industries, Inc. (NYSE:MLI) announced today that its Board of Directors has declared a regular quarterly cash dividend on its common stock of 20 cents per share. The dividend will be payable June 21, 2024 to shareholders of record on June 7, 2024. Mueller Industries, Inc. (NYSE:MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East. Statements in this release that are not strictly historical may be
Mueller Industries, Inc. (NYSE:MLI) announces results for the first quarter of 2024. Comparisons are to the first quarter of 2023. Net Income of $138.4 million versus $173.2 million Earnings Before Taxes of $201.6 million versus $237.4 million Net Sales of $849.7 million versus $971.2 million Diluted EPS* of $1.21 versus $1.54 (*adjusted retroactively to reflect the two-for-one stock split that took effect on October 20, 2023) First Quarter Financial and Operating Highlights: COMEX copper averaged $3.86 per pound during the quarter, 5.6% lower than in the first quarter of 2023. The decrease in net sales was attributable to lower demand for our products that are primar
Mueller Industries, Inc. (NYSE:MLI) today announced that it has entered into a definitive agreement to acquire Nehring Electrical Works Company and certain of its affiliated companies (collectively, "Nehring") for approximately $575 million, subject to customary purchase price adjustments, plus an additional $25 million earn out. Founded in 1912 and headquartered in DeKalb, Illinois, Nehring produces high-quality wire and cable solutions for the utility, telecommunication, electrical distribution, and OEM markets. Operating through its three business units (Nehring Electrical Works Company, Conex Cable, L.L.C., and Unified Wire & Cable, Inc.), Nehring is a recognized and trusted supplier to
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Mueller Industries, Inc. (NYSE:MLI) announced today that its Board of Directors has declared a regular cash dividend on its common stock of 20 cents per share. The dividend will be paid on December 20, 2024 to shareholders of record on December 6, 2024. Mueller Industries, Inc. (NYSE:MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East. Statements in this release that are not strictly historical may be "for
Mueller Industries, Inc. (NYSE:MLI) announces results for the third quarter of 2024. Comparisons are to the third quarter of 2023. Net Sales of $997.8 million versus $819.8 million Operating Income of $206.7 million versus $181.0 million Earnings Before Taxes of $217.8 million versus $189.0 million Net Income of $168.7 million versus $132.7 million Diluted EPS of $1.48 versus $1.171 Third Quarter Financial and Operating Highlights: COMEX copper averaged $4.23 per pound during the quarter, 12.0% higher than in the third quarter of 2023. The increase in net sales was attributable to the inclusion of $102.4 million of sales from recently acquired businesses, as well as the high
Mueller Industries, Inc. (NYSE:MLI) announced today that its Board of Directors has declared a regular cash dividend on its common stock of 20 cents per share. The dividend will be paid on September 20, 2024 to shareholders of record on September 6, 2024. Mueller Industries, Inc. (NYSE:MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East. Statements in this release that are not strictly historical may be
Mueller Industries, Inc. (NYSE:MLI) announces results for the second quarter of 2024. Comparisons are to the second quarter of 2023. Net Sales of $997.7 million versus $897.0 million Operating Income of $210.0 million versus $210.7 million Earnings Before Taxes of $222.9 million versus $241.0 million Net Income of $160.2 million versus $177.7 million Diluted EPS of $1.41 versus $1.561 Second Quarter Financial and Operating Highlights: COMEX copper averaged $4.55 per pound during the quarter, 18.4% higher than in the second quarter of 2023. The increase in net sales was attributable to higher unit shipments in most of our businesses, price increases tied to higher cop
Mueller Industries, Inc. (NYSE:MLI) announced today that its Board of Directors has declared a regular quarterly cash dividend on its common stock of 20 cents per share. The dividend will be payable June 21, 2024 to shareholders of record on June 7, 2024. Mueller Industries, Inc. (NYSE:MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East. Statements in this release that are not strictly historical may be
Mueller Industries, Inc. (NYSE:MLI) announces results for the first quarter of 2024. Comparisons are to the first quarter of 2023. Net Income of $138.4 million versus $173.2 million Earnings Before Taxes of $201.6 million versus $237.4 million Net Sales of $849.7 million versus $971.2 million Diluted EPS* of $1.21 versus $1.54 (*adjusted retroactively to reflect the two-for-one stock split that took effect on October 20, 2023) First Quarter Financial and Operating Highlights: COMEX copper averaged $3.86 per pound during the quarter, 5.6% lower than in the first quarter of 2023. The decrease in net sales was attributable to lower demand for our products that are primar
For the fourth consecutive year, Mueller Industries, Inc. (NYSE:MLI) has announced a double digit increase to its quarterly dividend. The Board of Directors has declared a regular quarterly cash dividend of $.20 per share, to be paid on March 29, 2024 to stockholders of record as of the close of business on March 15, 2024. This represents a 33 percent increase over the 2023 quarterly dividend. Mueller Industries, Inc. (NYSE:MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companie
Mueller Industries, Inc. (NYSE:MLI) today reported 2023 fourth quarter and full year results. For the Fourth Quarter 2023 versus Fourth Quarter 2022: • Net income: $119.2 million vs $138.9 million, down 14.2%. • Earnings before taxes: $177.9 million vs $185.9 million, down 4.3%. • Net sales: $732.4 million vs $877.6 million, down 16.5%. • Diluted EPS: $1.05 vs $1.23, down 14.6%. For the Full Year 2023 versus the Full Year 2022: • Net income: $602.9 million vs $658.3 million, down 8.4%. • Earnings before taxes: $845.2 million vs $876.0 million, down 3.5%.
Mueller Industries, Inc. (NYSE:MLI) announced today that its Board of Directors has declared a regular quarterly cash dividend on its common stock of 15 cents per share. The dividend will be payable December 15, 2023 to shareholders of record on December 1, 2023. Mueller Industries, Inc. (NYSE:MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East. Statements in this release that are not strictly historical
Mueller Industries, Inc. (NYSE:MLI) announces results for the third quarter of 2023. Comparisons are to the third quarter of 2022. Operating Income of $181.0 million versus $205.2 million Net Income of $132.7 million versus $154.5 million Diluted EPS* of $1.17 versus $1.37 Net Sales of $819.8 million versus $944.8 million (*adjusted retroactively to reflect the two-for-one stock split that took effect on October 20, 2023) Third Quarter Financial and Operating Highlights: The decrease in net sales was primarily attributable to reduced demand in our wholesale channel as distributors continued to rebalance inventory levels, particularly for products utilized in residential