Mueller Industries Inc. (MLI) Trading Up 1.9%
Shares of Mueller Industries Inc. (NYSE:MLI) were up 1.9% during mid-day trading on Friday . The stock traded as high as $35.02 and last traded at $34.92, with a volume of 163,356 shares trading hands. The stock had previously closed at $34.27.
Separately, TheStreet raised Mueller Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 24th.
The stock has a 50 day moving average price of $31.97 and a 200-day moving average price of $28.94. The stock has a market cap of $2.02 billion and a price-to-earnings ratio of 21.41.
Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, April 19th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. On average, analysts expect that Mueller Industries Inc. will post $1.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, May 27th.
In other news, Director Gennaro J. Fulvio sold 6,460 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $31.09, for a total value of $200,841.40. Following the sale, the director now owns 2,000 shares in the company, valued at $62,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $30.01, for a total value of $150,050.00. Following the completion of the sale, the director now owns 45,607 shares in the company, valued at approximately $1,368,666.07. The disclosure for this sale can be found here.
Several hedge funds recently modified their holdings of MLI. Comerica Bank increased its stake in shares of Mueller Industries by 0.6% in the fourth quarter. Comerica Bank now owns 57,976 shares of the company’s stock worth $1,450,000 after buying an additional 327 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Mueller Industries by 5.4% in the fourth quarter. Rhumbline Advisers now owns 86,352 shares of the company’s stock worth $2,340,000 after buying an additional 4,445 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Mueller Industries by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 105,548 shares of the company’s stock worth $2,860,000 after buying an additional 1,700 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Mueller Industries by 27.3% in the fourth quarter. First Trust Advisors LP now owns 135,464 shares of the company’s stock worth $3,671,000 after buying an additional 29,052 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new stake in shares of Mueller Industries during the fourth quarter worth approximately $5,722,000.
Mueller Industries, Inc (Mueller) is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through two segments: Plumbing & Refrigeration and Original Equipment Manufacturers (OEM). Its Plumbing & Refrigeration segment consists of Standard Products (SPD), Great Lakes Copper Ltd.
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