Mueller Industries (NYSE:MLI) Director John Hansen Sells 1,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Director John Hansen sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total transaction of $105,710.00. Following the completion of the sale, the director directly owned 91,664 shares of the company’s stock, valued at $9,689,801.44. This represents a 1.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Mueller Industries Trading Down 0.1%

Shares of MLI opened at $104.12 on Friday. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $106.28. The firm has a 50-day moving average price of $98.13 and a 200 day moving average price of $85.71. The firm has a market capitalization of $11.53 billion, a P/E ratio of 15.54 and a beta of 1.02.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). Mueller Industries had a net margin of 18.10% and a return on equity of 25.65%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $942.00 million. During the same period in the prior year, the company posted $1.48 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Mueller Industries’s dividend payout ratio is currently 15.87%.

Analyst Ratings Changes

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

Institutional Trading of Mueller Industries

Several hedge funds have recently made changes to their positions in the business. Wedbush Securities Inc. lifted its position in shares of Mueller Industries by 3.9% during the second quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 134 shares in the last quarter. CW Advisors LLC lifted its position in shares of Mueller Industries by 4.0% during the second quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 140 shares in the last quarter. Total Wealth Planning & Management Inc. lifted its position in shares of Mueller Industries by 2.5% during the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 144 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Mueller Industries by 6.2% during the second quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 152 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in shares of Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 168 shares in the last quarter. 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.