Insider Selling: Mueller Industries, Inc. (NYSE:MLI) Director Sells $743,400.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director Terry Hermanson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the sale, the director now directly owns 100,082 shares of the company’s stock, valued at approximately $7,440,095.88. This represents a 9.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mueller Industries Stock Up 0.1 %

Shares of NYSE MLI opened at $74.89 on Friday. Mueller Industries, Inc. has a 12 month low of $53.53 and a 12 month high of $96.81. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 14.10 and a beta of 1.03. The business has a fifty day simple moving average of $75.48 and a 200-day simple moving average of $79.82.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.34%. Mueller Industries’s payout ratio is 18.21%.

Institutional Trading of Mueller Industries

A number of hedge funds have recently modified their holdings of MLI. Golden State Wealth Management LLC raised its position in Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after buying an additional 168 shares during the period. New Age Alpha Advisors LLC purchased a new position in Mueller Industries during the fourth quarter valued at approximately $32,000. Wayfinding Financial LLC acquired a new position in Mueller Industries in the 1st quarter valued at approximately $34,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries in the 1st quarter worth approximately $40,000. Finally, Quarry LP acquired a new stake in shares of Mueller Industries during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

About Mueller Industries

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.