Mueller Industries, Inc. (NYSE:MLI) CEO Gregory L. Christopher sold 16,149 shares of Mueller Industries stock in a transaction dated Friday, April 9th. The shares were sold at an average price of $44.00, for a total value of $710,556.00. Following the transaction, the chief executive officer now owns 460,016 shares in the company, valued at approximately $20,240,704. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
NYSE MLI traded down $0.72 during trading on Tuesday, hitting $43.71. The stock had a trading volume of 2,167 shares, compared to its average volume of 278,083. The company has a market capitalization of $2.50 billion, a PE ratio of 19.07 and a beta of 1.16. The company's 50-day moving average price is $42.02 and its two-hundred day moving average price is $35.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.81 and a current ratio of 2.89. Mueller Industries, Inc. has a 12 month low of $20.91 and a 12 month high of $44.94.
Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 2nd. The industrial products company reported $0.90 earnings per share (EPS) for the quarter. Mueller Industries had a return on equity of 17.01% and a net margin of 5.79%. The company had revenue of $675.85 million for the quarter. As a group, equities analysts anticipate that Mueller Industries, Inc. will post 2.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 2nd. Stockholders of record on Friday, March 19th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, March 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Mueller Industries's previous quarterly dividend of $0.10. Mueller Industries's dividend payout ratio is currently 23.74%.
Several institutional investors have recently made changes to their positions in MLI. UBS Asset Management Americas Inc. raised its stake in shares of Mueller Industries by 2.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 58,224 shares of the industrial products company's stock worth $1,576,000 after purchasing an additional 1,421 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Mueller Industries by 13.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 826,364 shares of the industrial products company's stock worth $22,362,000 after acquiring an additional 96,078 shares during the last quarter. ExodusPoint Capital Management LP increased its holdings in shares of Mueller Industries by 53.4% during the 3rd quarter. ExodusPoint Capital Management LP now owns 19,986 shares of the industrial products company's stock worth $541,000 after acquiring an additional 6,957 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Mueller Industries by 56.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 46,681 shares of the industrial products company's stock worth $1,263,000 after acquiring an additional 16,821 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Mueller Industries during the 3rd quarter worth approximately $653,000. Institutional investors own 89.12% of the company's stock.
Several equities analysts have recently weighed in on MLI shares. Boenning Scattergood upgraded Mueller Industries from a "neutral" rating to an "outperform" rating and set a $55.00 price objective on the stock in a report on Monday, December 14th. Zacks Investment Research cut Mueller Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 16th.
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. The company's Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.
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