Mueller Industries (NYSE:MLI) CEO Sells $14,177,389.14 in Stock

Mueller Industries, Inc. (NYSE:MLI) CEO Gregory Christopher sold 103,266 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $137.29, for a total value of $14,177,389.14. Following the completion of the sale, the chief executive officer directly owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. This trade represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mueller Industries Trading Down 2.1%

Shares of MLI stock traded down $2.90 on Wednesday, reaching $132.74. The company had a trading volume of 647,829 shares, compared to its average volume of 815,751. The stock has a market cap of $14.68 billion, a PE ratio of 17.37 and a beta of 1.07. The company has a 50-day moving average of $117.67 and a 200-day moving average of $115.93. Mueller Industries, Inc. has a 12 month low of $71.54 and a 12 month high of $139.68.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.67. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 EPS.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a $0.35 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. Mueller Industries’s dividend payout ratio (DPR) is currently 18.32%.

Hedge Funds Weigh In On Mueller Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp grew its position in shares of Mueller Industries by 2.2% in the 4th quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 75 shares during the period. US Asset Management LLC grew its position in shares of Mueller Industries by 3.5% in the 4th quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 81 shares during the period. SJS Investment Consulting Inc. grew its position in shares of Mueller Industries by 28.4% in the 1st quarter. SJS Investment Consulting Inc. now owns 371 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 82 shares during the period. Root Financial Partners LLC boosted its position in Mueller Industries by 19.6% during the 1st quarter. Root Financial Partners LLC now owns 512 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 84 shares during the last quarter. Finally, Florida Financial Advisors LLC boosted its position in Mueller Industries by 3.7% during the 4th quarter. Florida Financial Advisors LLC now owns 2,510 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 89 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MLI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Wall Street Zen upgraded Mueller Industries from a “hold” rating to a “strong-buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

About Mueller Industries

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.