John B. Hansen Sells 1,000 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLIGet Rating) Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $68.94, for a total value of $68,940.00. Following the transaction, the director now directly owns 55,885 shares in the company, valued at approximately $3,852,711.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Mueller Industries Stock Down 0.3 %

Shares of NYSE:MLI traded down $0.24 on Thursday, reaching $69.00. The company had a trading volume of 150,423 shares, compared to its average volume of 284,142. Mueller Industries, Inc. has a twelve month low of $49.42 and a twelve month high of $70.38. The stock has a 50-day moving average price of $62.62 and a 200 day moving average price of $60.20. The stock has a market capitalization of $3.91 billion, a P/E ratio of 6.06 and a beta of 1.09.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. Mueller Industries’s payout ratio is presently 8.79%.

Hedge Funds Weigh In On Mueller Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLI. Pinebridge Investments L.P. increased its stake in Mueller Industries by 182.5% during the second quarter. Pinebridge Investments L.P. now owns 565 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 365 shares during the period. Heritage Financial Services LLC bought a new position in Mueller Industries during the 2nd quarter worth about $35,000. Costello Asset Management INC bought a new position in Mueller Industries during the 3rd quarter worth about $35,000. Wipfli Financial Advisors LLC bought a new position in Mueller Industries during the 3rd quarter worth about $38,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Mueller Industries during the 2nd quarter worth about $40,000. 90.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Mueller Industries in a research report on Wednesday, October 12th. They set a “buy” rating on the stock.

About Mueller Industries

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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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

Further Reading

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