RTTNews | Oct 19, 2021 01:24PM EDT

13:24 Tuesday, October 19, 2021 (RTTNews.com) - Tennessee-based industrial company, Mueller Industries, Inc. (MLI) is trading 6% higher on Tuesday market after the company's third-quarter profit increased four times. Mueller reported a net income of $170.98 million or $3.01 per share, up from $42.70 million or $0.76 earnings per share in the same quarter last year. The increase was driven by a 47% increase in the price of COMEX copper which sold at $4.30 per pound up from $2.93 per pound year-over-year. The revenue reported by the company also increased to $982.24 million, from $619.10 million last. The stock is currently trading at $46.02, up $2.49 or 5.72% from the previous close at $43.53. The shares opened at $46.00 in the morning. In the 52-week period, the shares hae ranged between $27.76 and $48.06.

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