Scott Jay Goldman Sells 4,234 Shares of Mueller Industries (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the completion of the transaction, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This trade represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $110.40 on Thursday. The firm has a 50 day moving average price of $103.37 and a two-hundred day moving average price of $91.57. The stock has a market cap of $12.26 billion, a P/E ratio of 16.48 and a beta of 1.04. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $111.39.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.11). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS.

Mueller Industries Announces Dividend

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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, According to data from MarketBeat, Mueller Industries currently has an average rating of “Buy” and a consensus price target of $105.00.

Institutional Investors Weigh In On Mueller Industries

Several large investors have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in Mueller Industries by 27.8% in the first quarter. CWM LLC now owns 1,177 shares of the industrial products company’s stock valued at $90,000 after buying an additional 256 shares during the period. Private Advisor Group LLC lifted its position in shares of Mueller Industries by 12.5% during the 1st 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 during the period. AE Wealth Management LLC boosted its stake in Mueller Industries by 198.8% during the first quarter. AE Wealth Management LLC now owns 18,846 shares of the industrial products company’s stock worth $1,435,000 after acquiring an additional 12,539 shares in the last quarter. Cetera Investment Advisers grew its holdings in 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 period. Finally, TD Asset Management Inc bought a new stake in Mueller Industries in the first quarter valued at $18,114,000. 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.