Mueller Industries (NYSE:MLI) Director Sells $459,981.76 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the transaction, the director directly owned 41,745 shares in the company, valued at $4,535,176.80. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mueller Industries Trading Up 1.5%

Shares of NYSE:MLI traded up $1.61 on Tuesday, hitting $109.61. The company had a trading volume of 214,925 shares, compared to its average volume of 931,496. The stock has a 50 day moving average price of $102.92 and a 200 day moving average price of $91.20. The stock has a market cap of $12.17 billion, a price-to-earnings ratio of 16.36 and a beta of 1.04. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $110.27.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Mueller Industries’s payout ratio is 14.93%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MLI. CWM LLC increased its holdings in Mueller Industries by 27.8% during the 1st quarter. CWM LLC now owns 1,177 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 256 shares during the period. Private Advisor Group LLC increased its holdings in shares of Mueller Industries by 12.5% during the first quarter. Private Advisor Group LLC now owns 5,939 shares of the industrial products company’s stock valued at $452,000 after acquiring an additional 662 shares in the last quarter. AE Wealth Management LLC increased its stake in Mueller Industries by 198.8% during the 1st quarter. AE Wealth Management LLC now owns 18,846 shares of the industrial products company’s stock valued at $1,435,000 after purchasing an additional 12,539 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Mueller Industries by 11.8% in the first quarter. Cetera Investment Advisers now owns 17,581 shares of the industrial products company’s stock worth $1,339,000 after purchasing an additional 1,849 shares during the last quarter. Finally, TD Asset Management Inc bought a new position in Mueller Industries during the 1st quarter valued at about $18,114,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

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.