Mueller Industries, Inc. (NYSE:MLI - Get Free Report) CEO Gregory Christopher sold 103,266 shares of the firm's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $137.29, for a total value of $14,177,389.14. Following the transaction, the chief executive officer directly owned 804,911 shares of the company's stock, valued at $110,506,231.19. The trade was a 11.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Mueller Industries Stock Performance
Mueller Industries stock opened at $132.74 on Thursday. The stock has a fifty day moving average of $117.98 and a two-hundred day moving average of $116.05. The company has a market capitalization of $14.68 billion, a price-to-earnings ratio of 17.37 and a beta of 1.07. Mueller Industries, Inc. has a fifty-two week low of $71.54 and a fifty-two week high of $139.68.
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 for the quarter, topping the consensus estimate of $1.49 by $0.67. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.Mueller Industries's revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 earnings per share.
Mueller Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a $0.35 dividend. This is an increase from Mueller Industries's previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, March 13th. Mueller Industries's dividend payout ratio (DPR) is presently 18.32%.
Institutional Investors Weigh In On Mueller Industries
Hedge funds and other institutional investors have recently made changes to their positions in the business. Savant Capital LLC grew its position in Mueller Industries by 239.2% during the third quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company's stock valued at $1,430,000 after acquiring an additional 9,975 shares during the period. Ballast Asset Management LP purchased a new stake in Mueller Industries during the third quarter valued at about $3,057,000. Ariose Capital Management Ltd purchased a new stake in Mueller Industries during the third quarter valued at about $3,904,000. Riggs Asset Managment Co. Inc. purchased a new stake in Mueller Industries during the third quarter valued at about $7,158,000. Finally, CPC Advisors LLC purchased a new stake in Mueller Industries during the third quarter valued at about $6,579,000. Hedge funds and other institutional investors own 94.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on MLI shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen raised Mueller Industries from a "hold" rating to a "strong-buy" rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries currently has a consensus rating of "Buy".
View Our Latest Research Report on MLI
Mueller Industries Company Profile
(
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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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