Mueller Industries (NYSE:MLI) Director Sells $128,160.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $64.08, for a total value of $128,160.00. Following the completion of the sale, the director directly owned 79,734 shares of the company’s stock, valued at approximately $5,109,354.72. This trade represents a 2.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mueller Industries Price Performance

NYSE:MLI opened at $62.79 on Friday. The stock has a market cap of $13.89 billion, a PE ratio of 16.35 and a beta of 1.11. Mueller Industries, Inc. has a fifty-two week low of $47.11 and a fifty-two week high of $71.12. The stock’s 50-day moving average is $63.17 and its two-hundred day moving average is $62.58.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.04. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $1.96 EPS.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued 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 dividend yield of 1.1%. Mueller Industries’s dividend payout ratio is currently 18.23%.

Institutional Investors Weigh In On Mueller Industries

Several institutional investors and hedge funds have recently bought and sold shares of MLI. Fifth Third Bancorp boosted its position in Mueller Industries by 2.2% during the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 75 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of Mueller Industries by 28.4% in the first quarter. SJS Investment Consulting Inc. now owns 371 shares of the industrial products company’s stock valued at $41,000 after buying an additional 82 shares in the last quarter. Root Financial Partners LLC raised its stake 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 worth $57,000 after buying an additional 84 shares during the last quarter. Florida Financial Advisors LLC raised its stake 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 worth $288,000 after buying an additional 89 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Mueller Industries by 4.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,100 shares of the industrial products company’s stock worth $241,000 after buying an additional 99 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a 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 target on the stock in a research report on Thursday, July 16th. Finally, Wall Street Zen cut shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $75.00.

About Mueller Industries

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.