Insider Selling: Mueller Industries, Inc. (NYSE:MLI) Director Sells $1,380,600.00 in Stock

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

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $87.90 on Monday. The stock has a market capitalization of $10.00 billion, a P/E ratio of 17.07 and a beta of 1.01. Mueller Industries, Inc. has a 52-week low of $40.43 and a 52-week high of $96.81. The stock’s 50-day simple moving average is $79.59 and its 200 day simple moving average is $68.43.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Institutional Trading of Mueller Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in MLI. Westside Investment Management Inc. purchased a new position in Mueller Industries during the 3rd quarter valued at about $41,000. Virtu Financial LLC purchased a new stake in shares of Mueller Industries in the third quarter worth about $278,000. Hohimer Wealth Management LLC bought a new position in shares of Mueller Industries in the third quarter valued at approximately $299,000. TD Private Client Wealth LLC grew its stake in Mueller Industries by 252.5% during the third quarter. TD Private Client Wealth LLC now owns 9,965 shares of the industrial products company’s stock valued at $738,000 after acquiring an additional 7,138 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in Mueller Industries by 14.2% during the third quarter. Coldstream Capital Management Inc. now owns 4,413 shares of the industrial products company’s stock valued at $328,000 after acquiring an additional 549 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

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.