Mueller Industries, Inc. (NYSE:MLI) Director Sells $229,160.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the transaction, the director now directly owns 104,214 shares in the company, valued at approximately $5,970,420.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $57.33 on Friday. The stock has a market cap of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08. Mueller Industries, Inc. has a fifty-two week low of $34.08 and a fifty-two week high of $59.59. The stock has a fifty day moving average of $52.44 and a 200-day moving average of $47.07.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%. The firm had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. Mueller Industries’s dividend payout ratio is 16.03%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MLI. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Management Group Inc. ADV boosted its stake in shares of Mueller Industries by 11.4% during the first quarter. Advisors Management Group Inc. ADV now owns 19,855 shares of the industrial products company’s stock valued at $1,071,000 after purchasing an additional 2,027 shares during the period. LifeSteps Financial Inc. purchased a new stake in Mueller Industries during the 1st quarter valued at $43,000. Fielder Capital Group LLC bought a new stake in Mueller Industries in the 1st quarter worth $3,028,000. First Trust Direct Indexing L.P. purchased a new position in shares of Mueller Industries in the first quarter valued at about $210,000. Finally, United Capital Management of KS Inc. raised its stake in shares of Mueller Industries by 3.0% during the first quarter. United Capital Management of KS Inc. now owns 101,327 shares of the industrial products company’s stock valued at $5,465,000 after acquiring an additional 2,934 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

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.