John B. Hansen Sells 2,000 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLIGet Rating) Director John B. Hansen sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $60.33, for a total value of $120,660.00. Following the completion of the sale, the director now owns 57,885 shares of the company’s stock, valued at approximately $3,492,202.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mueller Industries stock opened at $57.34 on Friday. Mueller Industries, Inc. has a 12 month low of $39.00 and a 12 month high of $63.07. The business has a 50 day simple moving average of $56.28 and a 200-day simple moving average of $55.24. The stock has a market capitalization of $3.28 billion, a PE ratio of 6.95 and a beta of 1.17.

Mueller Industries (NYSE:MLIGet Rating) last released its quarterly earnings results on Tuesday, February 1st. The industrial products company reported $2.21 EPS for the quarter. Mueller Industries had a return on equity of 40.26% and a net margin of 12.43%. The business had revenue of $956.36 million during the quarter. Sell-side analysts expect that Mueller Industries, Inc. will post 6.6 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Thursday, March 17th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.13. Mueller Industries’s dividend payout ratio is currently 12.12%.

Separately, initiated coverage on Mueller Industries in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company.

A number of hedge funds have recently made changes to their positions in MLI. EverSource Wealth Advisors LLC acquired a new position in Mueller Industries during the fourth quarter worth $26,000. Costello Asset Management INC acquired a new position in Mueller Industries during the fourth quarter worth $35,000. Catalyst Capital Advisors LLC acquired a new position in Mueller Industries during the fourth quarter worth $41,000. Whittier Trust Co. acquired a new position in Mueller Industries during the fourth quarter worth $47,000. Finally, First Horizon Advisors Inc. grew its holdings in Mueller Industries by 273.9% during the third quarter. First Horizon Advisors Inc. now owns 344 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 252 shares during the period. 88.58% of the stock is currently owned by hedge funds and other institutional investors.

About Mueller Industries (Get Rating)

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.

Featured Stories

Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with's FREE daily email newsletter.