Mueller Industries, Inc. (NYSE:MLI) Director Gary S. Gladstein purchased 6,600 shares of Mueller Industries stock in a transaction dated Monday, November 19th. The stock was bought at an average price of $24.74 per share, with a total value of $163,284.00. Following the acquisition, the director now directly owns 107,963 shares of the company’s stock, valued at $2,671,004.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

NYSE MLI traded down $0.36 on Tuesday, hitting $24.26. 3,557 shares of the stock were exchanged, compared to its average volume of 261,593. The company has a current ratio of 3.12, a quick ratio of 1.83 and a debt-to-equity ratio of 0.87. Mueller Industries, Inc. has a 52 week low of $23.32 and a 52 week high of $37.57. The firm has a market capitalization of $1.45 billion, a P/E ratio of 16.49 and a beta of 1.50.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.04). The company had revenue of $645.96 million during the quarter, compared to the consensus estimate of $583.39 million. Mueller Industries had a net margin of 3.37% and a return on equity of 15.29%. On average, research analysts anticipate that Mueller Industries, Inc. will post 1.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, December 6th. Mueller Industries’s payout ratio is presently 26.85%.

Several research firms have recently weighed in on MLI. ValuEngine cut shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Monday, September 17th. Boenning Scattergood reiterated a “hold” rating on shares of Mueller Industries in a report on Tuesday, October 23rd. Zacks Investment Research cut shares of Mueller Industries from a “hold” rating to a “strong sell” rating in a report on Friday, October 26th. Finally, TheStreet cut shares of Mueller Industries from a “b-” rating to a “c+” rating in a report on Monday, October 29th.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Mueller Industries by 4.6% in the third quarter. BlackRock Inc. now owns 8,163,515 shares of the industrial products company’s stock valued at $236,578,000 after purchasing an additional 361,378 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Mueller Industries by 8.3% in the second quarter. Gamco Investors INC. ET AL now owns 4,354,787 shares of the industrial products company’s stock valued at $128,510,000 after purchasing an additional 333,902 shares during the period. Wells Fargo & Company MN raised its position in shares of Mueller Industries by 3.8% in the third quarter. Wells Fargo & Company MN now owns 2,969,202 shares of the industrial products company’s stock valued at $86,048,000 after purchasing an additional 107,869 shares during the period. Gabelli Funds LLC raised its position in shares of Mueller Industries by 0.3% in the third quarter. Gabelli Funds LLC now owns 2,272,454 shares of the industrial products company’s stock valued at $65,856,000 after purchasing an additional 7,800 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Mueller Industries by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,064,267 shares of the industrial products company’s stock valued at $59,822,000 after purchasing an additional 38,446 shares during the period. 92.09% of the stock is currently owned by institutional investors.

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About Mueller Industries

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.

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