Mueller Industries (NYSE:MLI) CEO Gregory Christopher Sells 103,266 Shares

Mueller Industries, Inc. (NYSE:MLI) CEO Gregory Christopher sold 103,266 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $137.29, for a total value of $14,177,389.14. Following the completion of the sale, the chief executive officer directly owned 804,911 shares of the company’s stock, valued at $110,506,231.19. This represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mueller Industries Price Performance

MLI opened at $132.74 on Thursday. The business has a 50 day simple moving average of $117.98 and a 200-day simple moving average of $116.05. The stock has a market capitalization of $14.68 billion, a P/E ratio of 17.37 and a beta of 1.07. Mueller Industries, Inc. has a 12 month low of $71.54 and a 12 month high of $139.68.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.49 by $0.67. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a dividend of $0.35 per share. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, March 13th. Mueller Industries’s payout ratio is presently 18.32%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MLI shares. Wall Street Zen raised Mueller Industries from a “hold” rating to a “strong-buy” rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

Hedge Funds Weigh In On Mueller Industries

Hedge funds have recently bought and sold shares of the stock. Activest Wealth Management purchased a new position in Mueller Industries during the fourth quarter worth $27,000. JFS Wealth Advisors LLC increased its position in Mueller Industries by 121.1% during the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after buying an additional 138 shares in the last quarter. NBT Bank N A NY increased its position in Mueller Industries by 148.7% during the first quarter. NBT Bank N A NY now owns 286 shares of the industrial products company’s stock worth $32,000 after buying an additional 171 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in Mueller Industries during the fourth quarter worth $34,000. Finally, Western Pacific Wealth Management LP purchased a new position in Mueller Industries during the first quarter worth $34,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.