Mueller Industries (NYSE:MLI) Director John Hansen Sells 2,444 Shares of Stock

Key Points

• Director John Hansen sold 2,444 Mueller Industries shares at an average price of $67.72, generating approximately $165,508; his remaining stake is valued at about $12.28 million.
• Mueller Industries reported quarterly EPS of $1.13, beating estimates by $0.04, while revenue rose 25.5% year over year to $1.43 billion.
• Shares recently traded at $68.63, and analysts maintain an overall “Buy” rating with an average price target of $75.00.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director John Hansen sold 2,444 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $67.72, for a total transaction of $165,507.68. Following the completion of the transaction, the director directly owned 181,328 shares in the company, valued at approximately $12,279,532.16. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded up $0.28 on Wednesday, reaching $68.63. 124,483 shares of the stock were exchanged, compared to its average volume of 1,528,796. The firm has a market cap of $15.18 billion, a PE ratio of 17.87 and a beta of 1.11. The firm's 50 day moving average is $63.64 and its 200-day moving average is $62.51. Mueller Industries, Inc. has a one year low of $43.02 and a one year high of $70.95.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.04. Mueller Industries had a net margin of 18.25% and a return on equity of 25.68%. The business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the firm posted $1.96 earnings per share. The firm's quarterly revenue was up 25.5% compared to the same quarter last year.

Mueller Industries Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 5th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.0%. Mueller Industries's payout ratio is 18.23%.

Analyst Ratings Changes

Several analysts recently weighed in on MLI shares. Wall Street Zen lowered Mueller Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Thursday, July 16th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $75.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Activest Wealth Management acquired a new stake in Mueller Industries during the 4th quarter worth approximately $27,000. Arlington Trust Co LLC bought a new position in shares of Mueller Industries during the second quarter valued at $30,000. NBT Bank N A NY raised its stake in shares of Mueller Industries by 148.7% during the first quarter. NBT Bank N A NY now owns 286 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 171 shares during the last quarter. Western Pacific Wealth Management LP acquired a new position in shares of Mueller Industries during the first quarter worth $34,000. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Mueller Industries in the fourth quarter worth $34,000. Institutional investors and hedge funds own 94.50% of the company's stock.

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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