Mueller Industries (NYSE:MLI) Director Scott Jay Goldman Sells 2,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman sold 2,000 shares of Mueller Industries stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $64.08, for a total value of $128,160.00. Following the transaction, the director owned 79,734 shares in the company, valued at $5,109,354.72. This represents a 2.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Mueller Industries Trading Up 0.3%

Shares of Mueller Industries stock opened at $64.27 on Friday. The stock has a 50-day moving average price of $63.28 and a 200 day moving average price of $62.58. The company has a market cap of $14.22 billion, a P/E ratio of 16.74 and a beta of 1.11. Mueller Industries, Inc. has a 1 year low of $47.11 and a 1 year high of $71.12.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.04. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Mueller Industries had a return on equity of 25.68% and a net margin of 18.25%.The business’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.96 EPS.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 4th. Mueller Industries’s dividend payout ratio (DPR) is currently 18.23%.

Analyst Ratings Changes

Several research firms have weighed in on MLI. Wall Street Zen lowered shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Friday, July 17th. Finally, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, July 16th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $75.00.

Institutional Trading of Mueller Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Activest Wealth Management bought a new position in Mueller Industries in the 4th quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Mueller Industries in the second quarter valued at about $29,000. Arlington Trust Co LLC bought a new stake in shares of Mueller Industries in the 2nd quarter worth approximately $30,000. NBT Bank N A NY lifted its holdings in shares of Mueller Industries by 148.7% during the 1st quarter. NBT Bank N A NY now owns 286 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 171 shares during the period. Finally, Western Pacific Wealth Management LP bought a new position in Mueller Industries during the first quarter worth about $34,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

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.