John B. Hansen Sells 10,148 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 10,148 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $39.14, for a total value of $397,192.72. Following the transaction, the director now directly owns 109,214 shares in the company, valued at $4,274,635.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Mueller Industries Price Performance

Shares of MLI stock opened at $37.81 on Thursday. The company’s fifty day moving average price is $38.55 and its two-hundred day moving average price is $39.44. The firm has a market capitalization of $4.29 billion, a P/E ratio of 6.88 and a beta of 1.05. Mueller Industries, Inc. has a 12 month low of $29.08 and a 12 month high of $45.97.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.02 by $0.15. Mueller Industries had a return on equity of 30.39% and a net margin of 17.46%. The business had revenue of $819.70 million for the quarter, compared to analysts’ expectations of $661.00 million. The business’s revenue for the quarter was down 13.2% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, November 30th. Mueller Industries’s dividend payout ratio (DPR) is currently 10.92%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Friday, October 27th.

Institutional Trading of Mueller Industries

A number of hedge funds have recently made changes to their positions in MLI. Vanguard Personalized Indexing Management LLC grew its holdings in Mueller Industries by 2.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,902 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 135 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Mueller Industries by 0.7% in the second quarter. Russell Investments Group Ltd. now owns 20,182 shares of the industrial products company’s stock worth $1,761,000 after purchasing an additional 135 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Mueller Industries by 0.6% in the second quarter. Commonwealth Equity Services LLC now owns 24,554 shares of the industrial products company’s stock valued at $2,143,000 after buying an additional 141 shares during the last quarter. Metropolitan Life Insurance Co NY raised its stake in Mueller Industries by 4.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,439 shares of the industrial products company’s stock valued at $203,000 after buying an additional 144 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Mueller Industries by 3.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,632 shares of the industrial products company’s stock worth $404,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.