Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen Sells 3,130 Shares

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director now directly owns 93,914 shares of the company's stock, valued at $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded up $0.30 during trading on Friday, reaching $79.35. 555,440 shares of the company's stock were exchanged, compared to its average volume of 932,884. Mueller Industries, Inc. has a 1-year low of $53.53 and a 1-year high of $96.81. The company has a market cap of $8.78 billion, a P/E ratio of 14.94 and a beta of 1.03. The firm's 50-day moving average price is $75.27 and its 200 day moving average price is $79.71.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. Mueller Industries's dividend payout ratio is currently 18.21%.

Institutional Investors Weigh In On Mueller Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of MLI. William Blair Investment Management LLC bought a new stake in Mueller Industries during the 4th quarter worth $201,376,000. Norges Bank bought a new stake in Mueller Industries during the 4th quarter worth $117,351,000. Invesco Ltd. grew its position in Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after acquiring an additional 933,498 shares during the last quarter. FMR LLC grew its position in shares of Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after buying an additional 845,031 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Mueller Industries in the 1st quarter valued at about $54,072,000. Institutional investors own 94.50% of the company's stock.

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.