Insider Selling: Mueller Industries (NYSE:MLI) CEO Sells $5,171,000.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) CEO Gregory Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Monday, October 27th. The shares were sold at an average price of $103.42, for a total value of $5,171,000.00. Following the completion of the transaction, the chief executive officer owned 1,069,241 shares in the company, valued at $110,580,904.22. The trade was a 4.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mueller Industries Trading Up 0.4%

Shares of Mueller Industries stock opened at $104.80 on Thursday. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $106.55. The stock has a market capitalization of $11.63 billion, a P/E ratio of 15.64 and a beta of 1.02. The business’s fifty day moving average price is $99.09 and its 200 day moving average price is $86.78.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC lifted its stake in shares of Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 168 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Mueller Industries in the third quarter worth about $38,000. Brooklyn Investment Group lifted its stake in shares of Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 278 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Mueller Industries in the first quarter worth about $30,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Mueller Industries in the second quarter worth about $34,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $105.00.

About Mueller Industries

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.