John B. Hansen Sells 4,000 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the sale, the director now owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Mueller Industries Trading Down 1.8 %

MLI stock opened at $57.33 on Friday. The stock has a 50-day moving average price of $52.29 and a two-hundred day moving average price of $46.86. The stock has a market cap of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08. Mueller Industries, Inc. has a 1 year low of $34.08 and a 1 year high of $59.59.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The firm had revenue of $732.38 million during the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. Mueller Industries’s dividend payout ratio is currently 16.03%.

Hedge Funds Weigh In On Mueller Industries

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Mueller Industries by 100.0% during the 4th quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock worth $579,945,000 after buying an additional 6,150,358 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Mueller Industries by 94.5% during the 4th quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock worth $264,920,000 after buying an additional 2,729,382 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Mueller Industries by 90.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock worth $237,633,000 after buying an additional 2,399,862 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Mueller Industries by 97.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,172,082 shares of the industrial products company’s stock valued at $196,718,000 after purchasing an additional 2,055,506 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Mueller Industries by 93.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock valued at $181,496,000 after purchasing an additional 1,855,637 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MLI shares. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

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.