Mueller Industries, Inc. (NYSE:MLI) Short Interest Update

Mueller Industries, Inc. (NYSE:MLI) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 5,550,000 shares, a decrease of 17.2% from the March 15th total of 6,700,000 shares. Based on an average daily trading volume, of 671,600 shares, the days-to-cover ratio is currently 8.3 days.

Mueller Industries Stock Down 1.0 %

MLI opened at $51.72 on Friday. The stock’s fifty day moving average is $51.38 and its two-hundred day moving average is $45.85. The company has a market capitalization of $5.88 billion, a P/E ratio of 9.73 and a beta of 1.08. Mueller Industries has a 52 week low of $33.59 and a 52 week high of $54.64.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The business had revenue of $732.38 million for the quarter. Mueller Industries had a return on equity of 27.59% and a net margin of 17.63%.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.55%. The ex-dividend date was Thursday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio (DPR) is 15.05%.

Insider Transactions at Mueller Industries

In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John B. Hansen sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Mueller Industries

Several hedge funds and other institutional investors have recently bought and sold shares of MLI. Fifth Third Bancorp boosted its position in Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 292 shares in the last quarter. Larson Financial Group LLC boosted its position in Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new stake in shares of Mueller Industries in the 3rd quarter worth $30,000. Montag A & Associates Inc. acquired a new stake in shares of Mueller Industries in the 4th quarter worth $34,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Mueller Industries in the 2nd quarter worth $40,000. Institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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