Mueller Industries, Inc. (NYSE:MLI) CEO Gregory L. Christopher sold 3,713 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $32.00, for a total transaction of $118,816.00. Following the sale, the chief executive officer now owns 528,953 shares of the company’s stock, valued at $16,926,496. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of MLI traded up $0.09 during trading hours on Tuesday, reaching $31.65. 100 shares of the company traded hands, compared to its average volume of 210,987. The stock’s fifty day moving average is $29.35 and its 200 day moving average is $28.44. The stock has a market cap of $1.80 billion, a P/E ratio of 16.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.84 and a current ratio of 2.96. Mueller Industries, Inc. has a 1-year low of $21.49 and a 1-year high of $34.24.
Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. The business had revenue of $608.60 million during the quarter. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. On average, equities research analysts predict that Mueller Industries, Inc. will post 1.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.26%. Mueller Industries’s dividend payout ratio is currently 21.51%.
A number of brokerages have recently commented on MLI. Zacks Investment Research lowered shares of Mueller Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. TheStreet raised shares of Mueller Industries from a “c+” rating to a “b-” rating in a research report on Thursday, November 7th. Finally, ValuEngine lowered shares of Mueller Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 17th.
Several institutional investors and hedge funds have recently made changes to their positions in MLI. Premier Asset Management LLC acquired a new position in Mueller Industries in the second quarter worth about $220,000. Creative Planning acquired a new stake in shares of Mueller Industries during the second quarter worth approximately $230,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in shares of Mueller Industries by 14.3% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,000 shares of the industrial products company’s stock worth $234,000 after buying an additional 1,000 shares in the last quarter. Aperio Group LLC increased its holdings in shares of Mueller Industries by 25.4% during the second quarter. Aperio Group LLC now owns 8,170 shares of the industrial products company’s stock worth $239,000 after buying an additional 1,655 shares in the last quarter. Finally, RBF Capital LLC acquired a new stake in shares of Mueller Industries during the second quarter worth approximately $240,000. 90.62% of the stock is owned by institutional investors and hedge funds.
Mueller Industries Company Profile
Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.
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