Insider Selling: Mueller Industries, Inc. (NYSE:MLI) Director Sells 15,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mueller Industries Stock Down 4.2 %

MLI stock opened at $87.82 on Friday. The company has a market capitalization of $9.99 billion, a PE ratio of 17.05 and a beta of 1.01. The stock’s 50 day moving average is $79.59 and its two-hundred day moving average is $68.29. Mueller Industries, Inc. has a 52-week low of $40.43 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. The business’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.91%. Mueller Industries’s payout ratio is currently 15.53%.

Institutional Trading of Mueller Industries

Several hedge funds have recently made changes to their positions in MLI. LSV Asset Management grew its position in Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after purchasing an additional 641,114 shares during the last quarter. Fiera Capital Corp bought a new position in Mueller Industries in the 3rd quarter worth approximately $35,552,000. Charles Schwab Investment Management Inc. increased its position in Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after acquiring an additional 315,490 shares during the period. F M Investments LLC bought a new stake in Mueller Industries during the 2nd quarter valued at $14,441,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Mueller Industries by 77.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock worth $29,152,000 after acquiring an additional 171,671 shares during the period. Institutional investors own 94.50% of the company’s stock.

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.