Insider Selling: Mueller Industries, Inc. (NYSE:MLI) Director Sells 4,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the transaction, the director now directly owns 104,214 shares in the company, valued at $5,970,420.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mueller Industries Stock Performance

NYSE:MLI traded up $0.45 during trading hours on Thursday, reaching $58.41. The stock had a trading volume of 1,149,028 shares, compared to its average volume of 680,164. The stock has a market capitalization of $6.64 billion, a PE ratio of 11.62 and a beta of 1.08. The company has a 50 day moving average price of $51.95 and a two-hundred day moving average price of $46.70. Mueller Industries, Inc. has a 52 week low of $34.08 and a 52 week high of $59.59.

Mueller Industries (NYSE:MLI) last released 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 for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. Mueller Industries’s dividend payout ratio is currently 16.03%.

Analysts Set New Price Targets

A number of research analysts recently commented on MLI shares. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th.

Institutional Investors Weigh In On Mueller Industries

Several hedge funds have recently made changes to their positions in MLI. First Trust Direct Indexing L.P. purchased a new stake in shares of Mueller Industries during the 1st quarter worth $210,000. United Capital Management of KS Inc. increased its position in Mueller Industries by 3.0% during the 1st quarter. United Capital Management of KS Inc. now owns 101,327 shares of the industrial products company’s stock valued at $5,465,000 after buying an additional 2,934 shares in the last quarter. Measured Wealth Private Client Group LLC increased its position in Mueller Industries by 5.1% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 10,991 shares of the industrial products company’s stock valued at $593,000 after buying an additional 538 shares in the last quarter. F&V Capital Management LLC increased its holdings in shares of Mueller Industries by 1.4% in the first quarter. F&V Capital Management LLC now owns 167,170 shares of the industrial products company’s stock valued at $9,015,000 after purchasing an additional 2,280 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in shares of Mueller Industries in the first quarter valued at about $800,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

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.