Mueller Industries (NYSE:MLI) Reaches New 1-Year High at $56.66

Mueller Industries, Inc. (NYSE:MLI)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $56.66 and last traded at $56.51, with a volume of 88438 shares changing hands. The stock had previously closed at $53.54.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com cut shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Mueller Industries Trading Up 0.9 %

The business’s fifty day simple moving average is $51.95 and its 200-day simple moving average is $46.70. The firm has a market cap of $6.58 billion, a P/E ratio of 10.91 and a beta of 1.08.

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

Mueller Industries Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.38%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is presently 15.05%.

Insider Transactions at Mueller Industries

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC bought a new position in Mueller Industries in the third quarter valued at $30,000. Fifth Third Bancorp increased its stake in Mueller Industries by 124.3% in the fourth 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 during the last quarter. Larson Financial Group LLC increased its stake in Mueller Industries by 100.0% in the fourth 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 during the last quarter. Adirondack Trust Co. purchased a new stake in Mueller Industries during the third quarter valued at about $45,000. Finally, NBC Securities Inc. purchased a new stake in Mueller Industries during the third quarter valued at about $52,000. Institutional investors 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.