Mueller Industries (NYSE:MLI) Hits New 12-Month High – What’s Next?

Mueller Industries, Inc. (NYSE:MLI)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $81.32 and last traded at $81.32, with a volume of 163087 shares. The stock had previously closed at $72.08.

Mueller Industries Trading Up 14.0 %

The firm has a 50-day moving average of $70.58 and a two-hundred day moving average of $62.80. The firm has a market cap of $9.33 billion, a price-to-earnings ratio of 16.30 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The company had revenue of $997.75 million during the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s payout ratio is currently 16.03%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the transaction, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock worth $7,081,770 in the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. raised its stake in shares of Mueller Industries by 98.3% during the fourth quarter. American International Group Inc. now owns 61,094 shares of the industrial products company’s stock worth $2,881,000 after buying an additional 30,289 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Mueller Industries by 38.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 613,862 shares of the industrial products company’s stock valued at $28,944,000 after buying an additional 171,930 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Mueller Industries by 100.0% in the 4th quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock valued at $579,945,000 after acquiring an additional 6,150,358 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Mueller Industries by 103.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 9,244 shares of the industrial products company’s stock worth $436,000 after buying an additional 4,711 shares during the last quarter. Finally, CWM LLC raised its stake in Mueller Industries by 36.9% in the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the period. 94.50% of the stock is owned by institutional investors.

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.