Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen Sells 4,000 Shares

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the sale, the director now directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The transaction was disclosed in a filing with the SEC, which is available at this link.

Mueller Industries Trading Down 1.8 %

MLI opened at $57.33 on Friday. The stock has a 50-day moving average of $52.44 and a 200 day moving average of $47.07. Mueller Industries, Inc. has a 12 month low of $34.08 and a 12 month high of $59.59. The firm has a market cap of $6.51 billion, a P/E ratio of 11.49 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. The firm had revenue of $732.38 million during the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Institutional Trading of Mueller Industries

Several institutional investors and hedge funds have recently made changes to their positions in MLI. Fifth Third Bancorp increased its holdings in Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after buying an additional 292 shares during the period. Larson Financial Group LLC boosted its position in Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC bought a new position in shares of Mueller Industries in the 3rd quarter worth $30,000. Montag A & Associates Inc. purchased a new stake in shares of Mueller Industries during the 4th quarter worth $34,000. Finally, LifeSteps Financial Inc. bought a new stake in Mueller Industries during the first quarter valued at about $43,000. 94.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com downgraded Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

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.