Mueller Industries, Inc. (NYSE:MLI) CFO Jeffrey Andrew Martin Sells 52,436 Shares

Mueller Industries, Inc. (NYSE:MLI) CFO Jeffrey Andrew Martin sold 52,436 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 313,529 shares in the company, valued at $17,949,535.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00.

Mueller Industries Stock Performance

MLI stock opened at $56.09 on Thursday. The company’s 50 day moving average price is $52.75 and its 200 day moving average price is $47.43. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $59.59. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 11.24 and a beta of 1.08.

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

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.20 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries’s dividend payout ratio is currently 16.03%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MLI shares. StockNews.com lowered 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.

Hedge Funds Weigh In On Mueller Industries

Several hedge funds have recently added to or reduced their stakes in MLI. SG Americas Securities LLC purchased a new position in Mueller Industries in the third quarter valued at approximately $1,093,000. Linden Thomas Advisory Services LLC acquired a new stake in shares of Mueller Industries in the third quarter valued at approximately $705,000. Deltec Asset Management LLC acquired a new stake in shares of Mueller Industries in the third quarter valued at approximately $286,000. Raymond James & Associates boosted its holdings in shares of Mueller Industries by 9.8% in the third quarter. Raymond James & Associates now owns 31,023 shares of the industrial products company’s stock valued at $2,332,000 after acquiring an additional 2,763 shares during the period. Finally, Stratos Wealth Advisors LLC boosted its holdings in shares of Mueller Industries by 9.0% in the third quarter. Stratos Wealth Advisors LLC now owns 13,194 shares of the industrial products company’s stock valued at $992,000 after acquiring an additional 1,088 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

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.