Insider Selling: Mueller Industries, Inc. (NYSE:MLI) Director Sells 10,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Director Terry Hermanson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the transaction, the director now directly owns 100,082 shares in the company, valued at approximately $7,440,095.88. The trade was a 9.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Mueller Industries Trading Up 0.1 %

Mueller Industries stock opened at $74.89 on Friday. Mueller Industries, Inc. has a 1-year low of $53.53 and a 1-year high of $96.81. The firm’s fifty day simple moving average is $75.48 and its 200-day simple moving average is $79.82. The company has a market capitalization of $8.29 billion, a P/E ratio of 14.10 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.08. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Mueller Industries’s payout ratio is currently 18.21%.

Hedge Funds Weigh In On Mueller Industries

A number of institutional investors have recently modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new position in Mueller Industries in the 4th quarter valued at $300,000. Merit Financial Group LLC acquired a new position in shares of Mueller Industries during the 4th quarter worth about $287,000. Rhumbline Advisers grew its holdings in Mueller Industries by 13.7% in the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock valued at $28,895,000 after buying an additional 43,893 shares during the last quarter. US Bancorp DE increased its position in Mueller Industries by 3.0% in the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock worth $1,451,000 after buying an additional 537 shares during the period. Finally, Congress Asset Management Co. lifted its holdings in shares of Mueller Industries by 6.5% during the fourth quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company’s stock worth $16,081,000 after buying an additional 12,450 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

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.