Mueller Industries, Inc. (NYSE:MLI) Director Sells $91,970.00 in Stock

Key Points

• Director John B. Hansen sold 1,000 shares of Mueller Industries, Inc. at an average price of $91.97, reducing his ownership by 1.07% and retaining 92,664 shares valued at approximately $8.52 million.
• Mueller Industries reported a quarterly earnings per share (EPS) of $1.96, exceeding analysts' expectations of $1.62, along with a revenue of $1.14 billion, a 14.1% increase year-over-year.
• The company declared a quarterly dividend of $0.25 per share to be paid on September 19th, reflecting an annualized dividend yield of 1.1% and a payout ratio of 15.87%.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director John B. Hansen sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director directly owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Mueller Industries Price Performance

MLI stock traded down $0.65 during trading on Friday, hitting $91.51. 591,312 shares of the stock traded hands, compared to its average volume of 956,912. The firm's 50 day moving average is $83.28 and its two-hundred day moving average is $79.23. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $96.81. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 14.53 and a beta of 1.02.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. Mueller Industries's revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

Hedge Funds Weigh In On Mueller Industries

Several institutional investors have recently bought and sold shares of MLI. First Trust Advisors LP grew its holdings in Mueller Industries by 5.6% during the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after acquiring an additional 327,479 shares during the period. Invesco Ltd. grew its stake in shares of Mueller Industries by 0.4% in the first quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock valued at $213,160,000 after buying an additional 10,968 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Mueller Industries by 1.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,252,838 shares of the industrial products company's stock valued at $184,890,000 after purchasing an additional 42,599 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Mueller Industries by 0.9% in the 2nd quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company's stock worth $153,649,000 after purchasing an additional 16,757 shares during the last quarter. Finally, FMR LLC raised its stake in Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after acquiring an additional 845,031 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

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.