Mueller Industries (NYSE:MLI) CEO Sells $16,482,560.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) CEO Gregory Christopher sold 158,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $104.32, for a total value of $16,482,560.00. Following the transaction, the chief executive officer directly owned 1,119,241 shares of the company’s stock, valued at $116,759,221.12. This represents a 12.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mueller Industries Stock Performance

NYSE MLI 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 PE ratio of 15.64 and a beta of 1.02. The stock has a 50-day simple moving average of $99.09 and a 200 day simple moving average of $86.78.

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

Hedge Funds Weigh In On Mueller Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Mueller Industries by 40.7% in the 1st quarter. GAMMA Investing LLC now owns 1,140 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 330 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Mueller Industries by 22.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,699 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 1,435 shares during the period. Spire Wealth Management grew its stake in shares of Mueller Industries by 14.6% in the 1st quarter. Spire Wealth Management now owns 3,667 shares of the industrial products company’s stock valued at $279,000 after purchasing an additional 468 shares during the period. Golden State Wealth Management LLC grew its stake in shares of Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 168 shares during the period. Finally, Highland Capital Management LLC bought a new stake in shares of Mueller Industries in the 1st quarter valued at approximately $212,000. 94.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $105.00.

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.