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John B. Hansen Sells 1,000 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries logo with Industrials background

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%.
  • Looking to export and analyze Mueller Industries data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director John B. Hansen sold 1,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value 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. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Mueller Industries Price Performance

Shares of NYSE:MLI traded up $2.78 on Tuesday, reaching $92.75. 815,505 shares of the company traded hands, compared to its average volume of 1,023,977. Mueller Industries, Inc. has a fifty-two week low of $65.24 and a fifty-two week high of $96.81. The company's 50 day moving average is $82.11 and its 200-day moving average is $78.87. The stock has a market capitalization of $10.27 billion, a PE ratio of 14.72 and a beta of 1.02.

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

Mueller Industries Dividend Announcement

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

Institutional Investors Weigh In On Mueller Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC grew its holdings in shares of Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after buying an additional 168 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Mueller Industries by 267.3% during the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock valued at $29,000 after buying an additional 278 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Mueller Industries during the first quarter valued at $30,000. Wayfinding Financial LLC purchased a new position in shares of Mueller Industries during the first quarter valued at $34,000. Finally, Maseco LLP purchased a new position in shares of Mueller Industries during the second quarter valued at $40,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Mueller Industries (NYSE:MLI)

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