Mueller Industries, Inc. (MLI) Director Acquires $163,284.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director Gary S. Gladstein purchased 6,600 shares of the business’s stock in a transaction on Monday, November 19th. The stock was acquired at an average price of $24.74 per share, for a total transaction of $163,284.00. Following the completion of the purchase, the director now owns 107,963 shares of the company’s stock, valued at $2,671,004.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of MLI stock opened at $24.33 on Friday. Mueller Industries, Inc. has a 52-week low of $23.32 and a 52-week high of $37.57. The stock has a market capitalization of $1.40 billion, a P/E ratio of 16.33 and a beta of 1.50. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.83 and a current ratio of 3.12.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.04). Mueller Industries had a net margin of 3.37% and a return on equity of 15.29%. The business had revenue of $645.96 million during the quarter, compared to analysts’ expectations of $583.39 million. As a group, equities research analysts forecast that Mueller Industries, Inc. will post 1.5 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, December 6th. Mueller Industries’s dividend payout ratio is presently 26.85%.

A number of research firms have weighed in on MLI. TheStreet cut Mueller Industries from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Zacks Investment Research cut Mueller Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, October 26th. Boenning Scattergood restated a “hold” rating on shares of Mueller Industries in a research note on Tuesday, October 23rd. Finally, ValuEngine cut Mueller Industries from a “hold” rating to a “sell” rating in a research note on Monday, September 17th.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in Mueller Industries by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 157,900 shares of the industrial products company’s stock valued at $4,660,000 after purchasing an additional 2,090 shares in the last quarter. First Midwest Bank Trust Division boosted its holdings in Mueller Industries by 13.0% in the 2nd quarter. First Midwest Bank Trust Division now owns 18,222 shares of the industrial products company’s stock valued at $538,000 after purchasing an additional 2,096 shares in the last quarter. Ingalls & Snyder LLC boosted its holdings in Mueller Industries by 23.0% in the 2nd quarter. Ingalls & Snyder LLC now owns 12,300 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 2,300 shares in the last quarter. Aperio Group LLC boosted its holdings in Mueller Industries by 23.3% in the 2nd quarter. Aperio Group LLC now owns 14,525 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 2,744 shares in the last quarter. Finally, BlueMountain Capital Management LLC boosted its stake in shares of Mueller Industries by 111.3% during the 3rd quarter. BlueMountain Capital Management LLC now owns 5,446 shares of the industrial products company’s stock worth $158,000 after acquiring an additional 2,869 shares in the last quarter. 92.09% of the stock is currently owned by institutional investors.

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Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.

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Insider Buying and Selling by Quarter for Mueller Industries (NYSE:MLI)

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