Insider Selling: Mueller Industries, Inc. (NYSE:MLI) Director Sells $244,359.10 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 3,130 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the sale, the director now directly owns 93,914 shares of the company’s stock, valued at $7,331,865.98. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mueller Industries Stock Performance

NYSE:MLI opened at $79.16 on Thursday. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81. The business’s 50-day simple moving average is $75.37 and its 200 day simple moving average is $79.76. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 14.91 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, June 6th. Mueller Industries’s dividend payout ratio (DPR) is 18.21%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MLI. Barclays PLC lifted its stake in shares of Mueller Industries by 343.9% in the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock worth $14,613,000 after acquiring an additional 152,780 shares in the last quarter. Franklin Resources Inc. raised its stake in Mueller Industries by 6.7% during the third quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company’s stock valued at $5,073,000 after buying an additional 4,360 shares in the last quarter. GAMMA Investing LLC raised its stake in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after buying an additional 258 shares in the last quarter. City State Bank acquired a new stake in Mueller Industries during the fourth quarter valued at approximately $58,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Mueller Industries during the fourth quarter valued at approximately $2,268,000. Institutional investors and hedge funds 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.