Insider Selling: Mueller Industries, Inc. (NYSE:MLI) Director Sells 4,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now directly owns 104,214 shares in the company, valued at $5,970,420.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Mueller Industries Trading Up 0.8 %

Mueller Industries stock traded up $0.45 during trading hours on Thursday, reaching $58.41. 1,149,028 shares of the stock were exchanged, compared to its average volume of 680,164. The company has a market cap of $6.64 billion, a P/E ratio of 11.62 and a beta of 1.08. Mueller Industries, Inc. has a twelve month low of $34.08 and a twelve month high of $59.59. The stock has a 50 day moving average of $51.95 and a two-hundred day moving average of $46.70.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The firm had revenue of $732.38 million for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is 16.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its position in shares of Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after buying an additional 223 shares during the period. Meritage Portfolio Management grew its position in shares of Mueller Industries by 5.4% during the 3rd quarter. Meritage Portfolio Management now owns 5,265 shares of the industrial products company’s stock worth $396,000 after buying an additional 270 shares during the period. Fifth Third Bancorp grew its position in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after buying an additional 292 shares during the period. Larson Financial Group LLC grew its position in Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 299 shares during the period. Finally, Navellier & Associates Inc. grew its position in Mueller Industries by 4.5% in the 3rd quarter. Navellier & Associates Inc. now owns 6,984 shares of the industrial products company’s stock valued at $525,000 after purchasing an additional 301 shares during the period. Institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

MLI has been the topic of several research reports. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

Mueller Industries Company Profile

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. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.