Mueller Industries, Inc. (NYSE:MLI) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 492,300 shares, a decrease of 11.7% from the May 30th total of 557,600 shares. Based on an average daily trading volume, of 222,300 shares, the short-interest ratio is currently 2.2 days. Approximately 0.9% of the company’s shares are sold short.
Separately, Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th.
In other news, Director Scott Jay Goldman acquired 1,150 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average cost of $27.35 per share, for a total transaction of $31,452.50. Following the acquisition, the director now directly owns 12,450 shares in the company, valued at approximately $340,507.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Uncommon Cents Investing LLC raised its stake in Mueller Industries by 2.7% during the second quarter. Uncommon Cents Investing LLC now owns 40,935 shares of the industrial products company’s stock worth $1,198,000 after acquiring an additional 1,075 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Mueller Industries in the second quarter valued at approximately $268,000. Anderson Fisher LLC acquired a new stake in shares of Mueller Industries in the first quarter valued at approximately $103,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Mueller Industries in the first quarter valued at approximately $321,000. Finally, GAM Holding AG acquired a new stake in shares of Mueller Industries in the first quarter valued at approximately $470,000. 92.00% of the stock is owned by hedge funds and other institutional investors.
Mueller Industries stock traded up $0.09 during trading on Friday, reaching $28.09. 363,839 shares of the company’s stock were exchanged, compared to its average volume of 215,130. The business’s 50-day simple moving average is $28.28. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.99 and a current ratio of 3.56. Mueller Industries has a 52-week low of $21.49 and a 52-week high of $34.24. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 15.10 and a beta of 1.36.
Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.29). Mueller Industries had a return on equity of 19.32% and a net margin of 3.87%. The business had revenue of $661.80 million for the quarter. Mueller Industries’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Mueller Industries will post 1.45 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. Mueller Industries’s dividend payout ratio (DPR) is 21.51%.
Mueller Industries Company Profile
Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.
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