Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen Sells 3,130 Shares

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 3,130 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the transaction, the director now directly owns 93,914 shares of the company’s stock, valued at $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mueller Industries Trading Up 2.8%

Mueller Industries stock traded up $2.09 during mid-day trading on Monday, hitting $77.08. The company had a trading volume of 163,749 shares, compared to its average volume of 927,378. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81. The company’s fifty day moving average is $75.48 and its 200-day moving average is $79.80. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 14.51 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th 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 1.30%. Mueller Industries’s dividend payout ratio (DPR) is 18.21%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MLI. Barclays PLC lifted its holdings in Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock valued at $14,613,000 after purchasing an additional 152,780 shares in the last quarter. Franklin Resources Inc. grew its position in Mueller Industries by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company’s stock valued at $5,073,000 after acquiring an additional 4,360 shares in the last quarter. GAMMA Investing LLC grew its position in Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 258 shares in the last quarter. City State Bank acquired a new position in Mueller Industries in the 4th quarter valued at about $58,000. Finally, Assenagon Asset Management S.A. acquired a new position in Mueller Industries in the 4th quarter valued at about $2,268,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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.