Mueller Industries, Inc. (NYSE:MLI) Short Interest Update

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 5,550,000 shares, a drop of 17.2% from the March 15th total of 6,700,000 shares. Based on an average trading volume of 671,600 shares, the short-interest ratio is currently 8.3 days.

Mueller Industries Price Performance

Mueller Industries stock traded down $0.53 during midday trading on Friday, hitting $51.72. 387,347 shares of the company were exchanged, compared to its average volume of 662,331. The company has a market cap of $5.88 billion, a PE ratio of 9.73 and a beta of 1.08. Mueller Industries has a fifty-two week low of $33.59 and a fifty-two week high of $54.64. The company's fifty day moving average price is $51.38 and its 200-day moving average price is $45.85.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%. The business had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. Mueller Industries's dividend payout ratio (DPR) is currently 15.05%.

Insider Buying and Selling

In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the sale, the chief financial officer now directly owns 370,840 shares of the company's stock, valued at approximately $18,263,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now directly owns 370,840 shares in the company, valued at approximately $18,263,870. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MLI. Global Assets Advisory LLC bought a new stake in shares of Mueller Industries in the first quarter worth $800,000. FCF Advisors LLC increased its position in shares of Mueller Industries by 54.0% in the 1st quarter. FCF Advisors LLC now owns 22,044 shares of the industrial products company's stock worth $1,189,000 after purchasing an additional 7,729 shares during the last quarter. Anderson Hoagland & Co. raised its stake in shares of Mueller Industries by 1.3% in the 1st quarter. Anderson Hoagland & Co. now owns 71,476 shares of the industrial products company's stock valued at $3,696,000 after purchasing an additional 937 shares in the last quarter. Crestmont Private Wealth LLC lifted its position in shares of Mueller Industries by 13.0% during the first quarter. Crestmont Private Wealth LLC now owns 7,340 shares of the industrial products company's stock worth $396,000 after purchasing an additional 847 shares during the last quarter. Finally, BTC Capital Management Inc. acquired a new position in Mueller Industries in the first quarter worth about $575,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of Mueller Industries from a "buy" rating to a "hold" rating in a research note on Monday, January 22nd. Northcoast Research restated a "neutral" rating on shares of Mueller Industries in a research note on Friday, January 19th.

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.