Insider Selling: Mueller Industries (NYSE:MLI) Director Sells 1,000 Shares of Stock

Key Points

• Mueller Industries Director John Hansen sold 1,000 shares at an average price of $105.71, totaling $105,710, which reduced his ownership in the company by 1.08%.
• The company reported fiscal results revealing an EPS of $1.88, which fell short of analyst expectations of $1.99, while quarterly revenue grew by 8.0% year-over-year.
• Mueller Industries declared a $0.25 quarterly dividend with a yield of 1.0%, maintaining a dividend payout ratio of 15.87%.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director John Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total transaction of $105,710.00. Following the transaction, the director directly owned 91,664 shares in the company, valued at $9,689,801.44. This represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded up $0.58 during mid-day trading on Thursday, hitting $104.79. 391,955 shares of the stock were exchanged, compared to its average volume of 959,535. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $106.28. The company has a 50-day simple moving average of $97.89 and a 200 day simple moving average of $85.48. The company has a market capitalization of $11.60 billion, a P/E ratio of 15.63 and a beta of 1.02.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a return on equity of 25.65% and a net margin of 18.10%.The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $942.00 million. During the same period in the prior year, the business earned $1.48 EPS. Mueller Industries's quarterly revenue was up 8.0% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. grew its position in shares of Mueller Industries by 0.4% during the 1st quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock valued at $213,160,000 after acquiring an additional 10,968 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Mueller Industries by 3.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,330,168 shares of the industrial products company's stock valued at $232,900,000 after acquiring an additional 77,330 shares during the period. LSV Asset Management grew its position in shares of Mueller Industries by 0.9% during the 2nd quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company's stock valued at $153,649,000 after acquiring an additional 16,757 shares during the period. Norges Bank bought a new position in shares of Mueller Industries during the 2nd quarter valued at approximately $127,287,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Mueller Industries by 15.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company's stock valued at $93,259,000 after acquiring an additional 166,012 shares during the period. 94.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $105.00.

Mueller Industries Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.