Insider Selling: Mueller Industries (NYSE:MLI) Director Sells 2,000 Shares of Company Stock

Key Points

• Director John Hansen sold 2,000 Mueller Industries shares at an average price of $55.40, generating $110,800; his remaining stake totaled 179,078 shares.
• Mueller Industries shares rose 0.9% to $55.06, while the company’s latest quarter showed revenue growth of 31.6% year over year but EPS of $1.00, below the $1.08 consensus estimate.
• Analysts maintained a generally positive outlook, with the stock carrying an average “Buy” rating and a consensus price target of $75.50; institutional investors own 94.5% of shares.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director John Hansen sold 2,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $55.40, for a total value of $110,800.00. Following the sale, the director owned 179,078 shares of the company's stock, valued at $9,920,921.20. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mueller Industries Stock Up 0.9%

Shares of NYSE MLI traded up $0.51 during mid-day trading on Monday, hitting $55.06. 412,802 shares of the company were exchanged, compared to its average volume of 1,543,860. The stock has a 50 day simple moving average of $60.36 and a 200-day simple moving average of $62.25. Mueller Industries, Inc. has a 1-year low of $52.00 and a 1-year high of $71.12. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 14.13 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.08). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.28 billion. Mueller Industries had a net margin of 17.26% and a return on equity of 25.23%. The business's quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 earnings per share.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a dividend of $0.1750 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, September 4th. Mueller Industries's payout ratio is 17.95%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MLI shares. Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $75.00 price objective on the stock in a report on Thursday, July 16th. Wall Street Zen raised Mueller Industries from a "hold" rating to a "buy" rating in a report on Sunday. Freedom Broker decreased their price target on Mueller Industries from $80.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, October 22nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Industries in a report on Thursday, October 15th. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Mueller Industries presently has an average rating of "Buy" and a consensus target price of $75.50.

Institutional Trading of Mueller Industries

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $1,437,555,000. First Trust Advisors LP raised its holdings in Mueller Industries by 0.6% during the first quarter. First Trust Advisors LP now owns 5,594,217 shares of the industrial products company's stock worth $619,839,000 after purchasing an additional 33,248 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Mueller Industries during the second quarter worth $244,156,000. Bank of New York Mellon Corp purchased a new stake in Mueller Industries during the second quarter worth $131,286,000. Finally, Jupiter Topco LLC purchased a new stake in Mueller Industries during the second quarter worth $95,120,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Company Profile

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.

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