Welcome to our dedicated page for Mueller Industries news (Ticker: $MLI), a resource for investors and traders seeking the latest updates and insights on Mueller Industries stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Mueller Industries's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
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Rhea-AI Summary
Mueller Industries, Inc. (NYSE: MLI) reports first quarter 2024 earnings, with net income of $138.4 million, earnings before taxes of $201.6 million, net sales of $849.7 million, and diluted EPS of $1.21. The company experienced lower demand due to residential building products and lower copper prices. Despite a loss on investment in Tecumseh Products Company, Mueller generated $173.6 million in cash from operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.28%
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Rhea-AI Summary
Mueller Industries, Inc. (MLI) has agreed to acquire Nehring Electrical Works Company for approximately $575 million, with an additional $25 million earn out. Nehring, a producer of wire and cable solutions, had annual net sales of around $400 million in 2023. The acquisition is expected to boost Mueller's presence in the electrical and power infrastructure sector, leveraging synergies between the two companies. Mueller anticipates the acquisition to enhance its 2024 financial results and benefit from future infrastructure investments.
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Rhea-AI Sentiment
End-of-Day
2.41%
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Rhea-AI Summary
Mueller Industries, Inc. (NYSE: MLI) announces a 33% increase in quarterly dividend, marking the fourth consecutive year of growth. The company operates in various sectors globally, including air, water, oil and gas distribution, climate comfort, food preservation, energy transmission, medical, aerospace, and automotive.
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Rhea-AI Sentiment
End-of-Day
3.15%
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Scott Goldman, Co-Founder and CEO of TextPower, releases a new book 'The Four Rs of Cybersecurity' offering valuable insights for CEOs and Board Directors on navigating cybersecurity priorities. The book provides practical guidance on cybersecurity governance and compliance amid increasing regulatory scrutiny. Goldman's experience as a public company board director and CEO of TextPower adds credibility to his advice, making the book a valuable resource for corporate leaders.
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Rhea-AI Sentiment
End-of-Day
1.81%
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Rhea-AI Summary
Mueller Industries, Inc. (NYSE: MLI) reported a decline in net income, earnings before taxes, net sales, and diluted EPS for the fourth quarter and full year of 2023 compared to the previous year. The company experienced reduced demand in most segments and markets, particularly those products used in new residential construction. Despite this, the CEO remains optimistic about the business outlook due to structural changes and strong cash flows.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.06%
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Rhea-AI Summary
Mueller Industries, Inc. (NYSE: MLI) has declared a regular quarterly cash dividend of 15 cents per share on its common stock. The dividend will be payable on December 15, 2023, to shareholders of record on December 1, 2023. Mueller Industries is an industrial corporation with a network of companies and brands worldwide, manufacturing vital goods for various markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.92%
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Mueller Industries, Inc. announces Q3 2023 results with a decrease in net sales and operating income compared to Q3 2022. The company sold a majority interest in its PEX plastic piping business. Net cash provided by operations was $247.7 million, and cash plus short-term investments were $1.10 billion at quarter end. The company's CEO remains optimistic about business conditions and strategic investments.
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Rhea-AI Sentiment
End-of-Day
3.48%
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Mueller Industries announces two-for-one stock split with distribution date on October 20, 2023. Outstanding common shares to increase to approximately 113.5 million shares.
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Rhea-AI Sentiment
End-of-Day
3.59%
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News
Rhea-AI Summary
Mueller Industries, Inc. (NYSE: MLI) has filed a preliminary proxy statement for a special meeting of shareholders to approve an amendment to increase the total number of authorized shares of Common Stock from 100,000,000 to 250,000,000. The amendment aims to facilitate a stock split of the Common Stock in the form of a stock dividend. The decision to approve a stock split following the Special Meeting will depend on factors including the then-current trading price of the Company’s Common Stock. As of July 21, 2023, the Company has 56,778,790 shares of Common Stock outstanding.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.97%
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Rhea-AI Summary
Mueller Industries, Inc. (NYSE: MLI) declares a regular quarterly cash dividend of 30 cents per share, payable on September 15, 2023, to shareholders of record on September 1, 2023. The company is an industrial corporation with holdings in vital markets such as air, water, oil, and gas distribution, climate comfort, food preservation, and more. The announcement includes forward-looking statements and highlights the company's global presence.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.32%
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Mueller Industries, Inc.
NYSE:MLI
MLI Rankings
MLI Stock Data
6.59B
110.57M
2.56%
97.88%
4.88%
Copper Rolling, Drawing, Extruding, and Alloying
Manufacturing
United States of America
COLLIERVILLE
About MLI
mueller industries, inc. (nyse: mli) is an industrial manufacturer specializing in copper and copper alloy manufacturing while also producing goods made from aluminum, steel, and plastics. headquartered in memphis, tennessee, the company comprises a network of operations in the united states, canada, mexico, great britain, and china. products include tubing, fittings, valves, vessels, and related items for plumbing, hvacr, and related piping systems, as well as rod, forgings, extrusions, and various components for oem applications. products are distributed into sectors such as building construction, appliance, defense, energy, and automotive.