Mueller Industries Inc. (MLI) CEO Sells $900,750.00 in Stock
Mueller Industries Inc. (NYSE:MLI) CEO Gregory L. Christopher sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $36.03, for a total value of $900,750.00. Following the transaction, the chief executive officer now owns 315,546 shares in the company, valued at approximately $11,369,122.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Mueller Industries Inc. (NYSE:MLI) traded up 2.59% on Wednesday, reaching $36.90. The company had a trading volume of 233,183 shares. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 21.83 and a beta of 1.27. Mueller Industries Inc. has a 52 week low of $23.09 and a 52 week high of $36.90. The stock’s 50 day moving average is $31.59 and its 200 day moving average is $32.38.
Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 18th. The company reported $0.45 earnings per share for the quarter. Mueller Industries had a net margin of 4.71% and a return on equity of 10.81%. During the same period in the prior year, the company posted $0.31 earnings per share. On average, equities analysts anticipate that Mueller Industries Inc. will post $1.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, November 30th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP increased its position in Mueller Industries by 33.3% in the second quarter. First Trust Advisors LP now owns 151,073 shares of the company’s stock valued at $4,816,000 after buying an additional 37,770 shares during the period. Gabelli Funds LLC increased its position in Mueller Industries by 1.4% in the second quarter. Gabelli Funds LLC now owns 2,137,600 shares of the company’s stock valued at $68,147,000 after buying an additional 29,000 shares during the period. Gamco Investors INC. ET AL increased its position in Mueller Industries by 3.3% in the second quarter. Gamco Investors INC. ET AL now owns 4,115,500 shares of the company’s stock valued at $131,202,000 after buying an additional 132,846 shares during the period. Mutual of America Capital Management LLC increased its position in Mueller Industries by 2.8% in the second quarter. Mutual of America Capital Management LLC now owns 425,115 shares of the company’s stock valued at $13,553,000 after buying an additional 11,393 shares during the period. Finally, First Midwest Bank Trust Division increased its position in Mueller Industries by 46.1% in the second quarter. First Midwest Bank Trust Division now owns 22,418 shares of the company’s stock valued at $715,000 after buying an additional 7,077 shares during the period. 92.89% of the stock is owned by institutional investors and hedge funds.
Mueller Industries Company Profile
Mueller Industries, Inc (Mueller) is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through two segments: Plumbing & Refrigeration and Original Equipment Manufacturers (OEM). Its Plumbing & Refrigeration segment consists of Standard Products (SPD), Great Lakes Copper Ltd.
Receive News & Stock Ratings for Mueller Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries Inc. and related stocks with our FREE daily email newsletter.