Denison Mines announces $250 million convertible notes offering
Scott Jay Goldman, a director at Mueller Industries Inc . (NYSE:MLI), a $9.17 billion industrial manufacturer whose stock has surged 67% over the past year, recently sold 10,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $79.81, resulting in a total transaction value of $798,100. Following this sale, Goldman owns 56,098 shares directly. The shares were sold in multiple transactions, with prices ranging from $79.81 to $79.89. According to InvestingPro analysis, Mueller Industries maintains excellent financial health with a "GREAT" overall score, trading at a P/E ratio of 14.9. InvestingPro data suggests the stock is currently undervalued, with additional insights available to subscribers.
In other recent news, Mueller Industries reported fourth quarter earnings and revenue results, with revenue surpassing expectations. The industrial manufacturer posted Q4 adjusted earnings per share of $1.21, which fell short of the analyst consensus of $1.06. However, the company’s Q4 revenue of $923.5 million exceeded the estimated $847 million, marking a 26.1% year-over-year increase.
The rise in net sales was primarily attributed to acquisitions made in the second half of the year and an uptick in unit volume in U.S. construction-related products. Additionally, higher copper prices also played a role, with COMEX copper averaging $4.22 per pound during the quarter, up 13% YoY.
Mueller Industries generated $140.1 million in operating cash flow for Q4 and $645.9 million for the full year. The company’s year-end cash and short-term investments amounted to $1.06 billion.
CEO Greg Christopher commented on the company’s future, noting several promising initiatives underway and a commitment to reinvesting to strengthen core operations. He also expressed optimism about the potential impact of new trade and regulatory policies, though he noted these will take time to materialize.
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