Mueller Industries (NYSE:MLI) CEO Sells $14,177,389.14 in Stock

Key Points

• CEO sale: Gregory Christopher sold 103,266 shares on April 27 for $14,177,389.14 (avg $137.29), trimming his stake by 11.37% to 804,911 shares valued at about $110.5M.
• Earnings beat: Mueller reported Q EPS of $2.16 vs. $1.49 expected and revenue of $1.19B vs. $1.10B expected, with revenue up 19.3% YoY and strong profitability (ROE 25.97%, net margin 19.37%).
• Dividend increase and stock reaction: The company raised its quarterly dividend to $0.35 (annualized $1.40, yield 1.1%), while the stock traded down roughly 2.1% to $132.74 on the day of the filing.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) CEO Gregory Christopher sold 103,266 shares of Mueller Industries stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $137.29, for a total value of $14,177,389.14. Following the completion of the transaction, the chief executive officer directly owned 804,911 shares of the company's stock, valued at $110,506,231.19. This represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mueller Industries Trading Down 2.1%

Shares of Mueller Industries stock traded down $2.90 during trading on Wednesday, reaching $132.74. The company's stock had a trading volume of 647,829 shares, compared to its average volume of 815,751. The stock has a 50-day moving average price of $117.67 and a two-hundred day moving average price of $115.93. Mueller Industries, Inc. has a one year low of $71.54 and a one year high of $139.68. The stock has a market capitalization of $14.68 billion, a P/E ratio of 17.37 and a beta of 1.07.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.67. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The firm's revenue for the quarter was up 19.3% compared to the same quarter last year.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, March 13th. This is a boost from Mueller Industries's previous quarterly dividend of $0.25. Mueller Industries's dividend payout ratio is currently 18.32%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MLI shares. Wall Street Zen raised shares of Mueller Industries from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries currently has a consensus rating of "Buy".

Institutional Investors Weigh In On Mueller Industries

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp increased its stake in shares of Mueller Industries by 2.2% in the 4th quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company's stock valued at $400,000 after acquiring an additional 75 shares during the last quarter. US Asset Management LLC increased its stake in shares of Mueller Industries by 3.5% in the 4th quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company's stock valued at $278,000 after acquiring an additional 81 shares during the last quarter. SJS Investment Consulting Inc. increased its stake in shares of Mueller Industries by 28.4% in the 1st quarter. SJS Investment Consulting Inc. now owns 371 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 82 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of Mueller Industries by 19.6% in the 1st quarter. Root Financial Partners LLC now owns 512 shares of the industrial products company's stock valued at $57,000 after acquiring an additional 84 shares during the last quarter. Finally, Florida Financial Advisors LLC increased its stake in shares of Mueller Industries by 3.7% in the 4th quarter. Florida Financial Advisors LLC now owns 2,510 shares of the industrial products company's stock valued at $288,000 after acquiring an additional 89 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.

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