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 stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the sale, the chief financial officer now directly owns 313,529 shares in the company, valued at $17,949,535.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 Trading Up 1.3 %

Mueller Industries stock traded up $0.74 during trading on Monday, hitting $58.07. The company had a trading volume of 715,261 shares, compared to its average volume of 681,446. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $59.59. The company’s 50 day simple moving average is $52.44 and its 200-day simple moving average is $47.14. The stock has a market cap of $6.60 billion, a price-to-earnings ratio of 11.49 and a beta of 1.08.

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

Mueller Industries Increases Dividend

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

Institutional Investors Weigh In On Mueller Industries

Several institutional investors have recently modified their holdings of the company. CWM LLC lifted its position in shares of Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 223 shares during the last quarter. Meritage Portfolio Management lifted its position in shares of Mueller Industries by 5.4% during the 3rd quarter. Meritage Portfolio Management now owns 5,265 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 270 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 299 shares during the last quarter. Finally, Navellier & Associates Inc. lifted its position in shares of Mueller Industries by 4.5% during the 3rd quarter. Navellier & Associates Inc. now owns 6,984 shares of the industrial products company’s stock worth $525,000 after purchasing an additional 301 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.