Mueller Industries, Inc. (NYSE:MLI) insider Gary Westermeyer acquired 1,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was bought at an average cost of $26.95 per share, for a total transaction of $26,950.00. Following the transaction, the insider now owns 15,292 shares of the company’s stock, valued at approximately $412,119.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Mueller Industries, Inc. (NYSE:MLI) opened at $27.29 on Wednesday. The company has a market cap of $1,602.36, a PE ratio of 18.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.05 and a quick ratio of 1.70. Mueller Industries, Inc. has a 12-month low of $25.59 and a 12-month high of $43.43.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, March 15th. Mueller Industries’s dividend payout ratio is 26.85%.
A number of hedge funds have recently made changes to their positions in MLI. Voya Investment Management LLC raised its position in Mueller Industries by 21.5% in the second quarter. Voya Investment Management LLC now owns 25,470 shares of the industrial products company’s stock worth $776,000 after acquiring an additional 4,501 shares during the period. State Street Corp raised its position in Mueller Industries by 3.7% in the second quarter. State Street Corp now owns 1,375,986 shares of the industrial products company’s stock worth $41,900,000 after acquiring an additional 49,711 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Mueller Industries in the second quarter worth about $266,000. The Manufacturers Life Insurance Company raised its position in Mueller Industries by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 44,075 shares of the industrial products company’s stock worth $1,342,000 after acquiring an additional 563 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Mueller Industries in the second quarter worth about $206,000. 90.85% of the stock is currently owned by institutional investors and hedge funds.
Mueller Industries Company Profile
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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