Insider Selling: Mueller Industries, Inc. (NYSE:MLI) CFO Sells 52,436 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the completion of the sale, the chief financial officer now directly owns 313,529 shares in the company, valued at $17,949,535.25. The sale was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00.

Mueller Industries Stock Up 1.3 %

NYSE:MLI traded up $0.74 during mid-day trading on Monday, hitting $58.07. 715,261 shares of the stock traded hands, compared to its average volume of 681,446. The business’s 50-day moving average price is $52.44 and its 200 day moving average price is $47.14. The company has a market cap of $6.60 billion, a PE ratio of 11.49 and a beta of 1.08. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $59.59.

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

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Institutional Trading of Mueller Industries

Institutional investors have recently bought and sold shares of the company. F&V Capital Management LLC raised its stake in Mueller Industries by 100.0% during the 4th quarter. F&V Capital Management LLC now owns 164,890 shares of the industrial products company’s stock worth $7,775,000 after acquiring an additional 82,445 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $2,678,000. Nisa Investment Advisors LLC grew its holdings in shares of Mueller Industries by 86.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 9,850 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 4,575 shares in the last quarter. Meritage Portfolio Management boosted its stake in Mueller Industries by 297.7% during the fourth quarter. Meritage Portfolio Management now owns 20,938 shares of the industrial products company’s stock worth $987,000 after buying an additional 15,673 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in shares of Mueller Industries by 181.2% during the third quarter. Qube Research & Technologies Ltd now owns 57,165 shares of the industrial products company’s stock worth $4,297,000 after purchasing an additional 36,835 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MLI shares. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Mueller Industries Company Profile

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.