Jeffrey Andrew Martin Sells 52,436 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLI) CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the completion of the sale, the chief financial officer now directly owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Jeffrey Andrew Martin also recently made the following trade(s):

• On Thursday, February 8th, Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00.

Mueller Industries Trading Down 3.9 %

MLI opened at $55.82 on Wednesday. The firm has a market capitalization of $6.34 billion, a PE ratio of 11.19 and a beta of 1.08. The firm has a 50 day moving average of $52.61 and a two-hundred day moving average of $47.29. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $59.59.

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

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. Mueller Industries’s payout ratio is 16.03%.

Hedge Funds Weigh In On Mueller Industries

Institutional investors have recently made changes to their positions in the company. F&V Capital Management LLC increased its holdings in shares of Mueller Industries by 100.0% during the 4th quarter. F&V Capital Management LLC now owns 164,890 shares of the industrial products company’s stock valued at $7,775,000 after purchasing an additional 82,445 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Mueller Industries in the 4th quarter valued at $2,678,000. Nisa Investment Advisors LLC grew its stake in Mueller Industries by 86.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,850 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 4,575 shares during the period. Meritage Portfolio Management grew its stake in Mueller Industries by 297.7% in the 4th quarter. Meritage Portfolio Management now owns 20,938 shares of the industrial products company’s stock valued at $987,000 after acquiring an additional 15,673 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in Mueller Industries by 181.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 57,165 shares of the industrial products company’s stock valued at $4,297,000 after acquiring an additional 36,835 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MLI has been the subject of a number of research reports. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

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.