Mueller Industries (NYSE:MLI) CEO Gregory Christopher Sells 200,000 Shares

Mueller Industries, Inc. (NYSE:MLI) CEO Gregory Christopher sold 200,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total value of $13,688,000.00. Following the transaction, the chief executive officer owned 1,598,850 shares in the company, valued at $109,425,294. The trade was a 11.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mueller Industries Stock Down 0.2%

Shares of NYSE MLI opened at $68.31 on Thursday. Mueller Industries, Inc. has a twelve month low of $44.97 and a twelve month high of $71.12. The firm has a market cap of $15.11 billion, a PE ratio of 17.79 and a beta of 1.11. The business has a fifty day simple moving average of $64.10 and a two-hundred day simple moving average of $62.62.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. Mueller Industries had a return on equity of 25.68% and a net margin of 18.25%.The business’s revenue was up 25.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 EPS.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.70 dividend on an annualized basis and a yield of 1.0%. Mueller Industries’s dividend payout ratio (DPR) is 18.23%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MLI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Friday, July 17th. Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, July 16th. Finally, Wall Street Zen lowered shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries has an average rating of “Buy” and a consensus price target of $75.00.

Hedge Funds Weigh In On Mueller Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLI. Fifth Third Bancorp boosted its stake in Mueller Industries by 2.2% in the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 75 shares in the last quarter. US Asset Management LLC increased its position in shares of Mueller Industries by 3.5% during the fourth quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 81 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of Mueller Industries by 28.4% during the first quarter. SJS Investment Consulting Inc. now owns 371 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 82 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Mueller Industries by 19.6% during the 1st quarter. Root Financial Partners LLC now owns 512 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 84 shares during the last quarter. Finally, Florida Financial Advisors LLC lifted its holdings in shares of Mueller Industries by 3.7% during the 4th quarter. Florida Financial Advisors LLC now owns 2,510 shares of the industrial products company’s stock valued at $288,000 after purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.