Insider Selling: Mueller Industries, Inc. (NYSE:MLI) CFO Sells 52,436 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) CFO Jeffrey Andrew Martin sold 52,436 shares of the business's stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares of the company's stock, valued at approximately $17,949,535.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Jeffrey Andrew Martin also recently made the following trade(s):

• On Thursday, February 8th, Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00.

Mueller Industries Stock Up 1.3 %

Mueller Industries stock traded up $0.72 during mid-day trading on Monday, hitting $58.05. The company had a trading volume of 715,335 shares, compared to its average volume of 686,002. The business has a fifty day moving average of $52.61 and a 200 day moving average of $47.29. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $59.59. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 11.63 and a beta of 1.08.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%. The firm had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. This is an increase from Mueller Industries's previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. Mueller Industries's dividend payout ratio is presently 16.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Northcoast Research reissued a "neutral" rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com cut shares of Mueller Industries from a "buy" rating to a "hold" rating in a research report on Monday, January 22nd.

Hedge Funds Weigh In On Mueller Industries

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of Mueller Industries by 36.9% in the 1st quarter. CWM LLC now owns 827 shares of the industrial products company's stock valued at $45,000 after buying an additional 223 shares during the period. Meritage Portfolio Management lifted its position in shares of Mueller Industries by 5.4% during the 3rd quarter. Meritage Portfolio Management now owns 5,265 shares of the industrial products company's stock valued at $396,000 after acquiring an additional 270 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC increased its position in shares of Mueller Industries by 100.0% in the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company's stock worth $28,000 after acquiring an additional 299 shares in the last quarter. Finally, Navellier & Associates Inc. raised its stake in Mueller Industries by 4.5% during the 3rd quarter. Navellier & Associates Inc. now owns 6,984 shares of the industrial products company's stock valued at $525,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds 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.