Mueller Industries (NYSE:MLI) Trading 6.8% Higher

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Mueller Industries, Inc. (NYSE:MLI)’s share price traded up 6.8% during mid-day trading on Monday . The stock traded as high as $26.16 and last traded at $26.09, 393,914 shares changed hands during mid-day trading. An increase of 49% from the average session volume of 263,898 shares. The stock had previously closed at $24.42.

Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Friday, May 29th. ValuEngine downgraded shares of Mueller Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, March 24th. Finally, Boenning Scattergood downgraded shares of Mueller Industries from an “outperform” rating to a “neutral” rating in a research note on Monday, March 16th.

The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.19 and a current ratio of 3.37. The company’s 50 day moving average price is $25.56 and its 200 day moving average price is $27.56. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 12.72 and a beta of 1.15.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, April 21st. The industrial products company reported $0.32 EPS for the quarter. Mueller Industries had a net margin of 4.86% and a return on equity of 16.99%. The company had revenue of $602.92 million for the quarter. As a group, analysts predict that Mueller Industries, Inc. will post -0.12 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.40 annualized dividend and a yield of 1.50%. Mueller Industries’s dividend payout ratio (DPR) is 18.26%.

In related news, insider Steffen Sigloch sold 8,447 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $26.49, for a total transaction of $223,761.03. Following the transaction, the insider now owns 162,023 shares in the company, valued at approximately $4,291,989.27. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 16,196 shares of company stock worth $446,064. 2.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in Mueller Industries by 52.0% during the 1st quarter. Meeder Asset Management Inc. now owns 1,836 shares of the industrial products company’s stock worth $44,000 after buying an additional 628 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Mueller Industries during the 1st quarter worth about $67,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Mueller Industries by 17.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,319 shares of the industrial products company’s stock valued at $103,000 after purchasing an additional 628 shares during the period. First Quadrant L P CA acquired a new position in Mueller Industries during the 1st quarter valued at about $114,000. Finally, Envestnet Asset Management Inc. acquired a new position in Mueller Industries during the 4th quarter valued at about $200,000. Institutional investors and hedge funds own 89.58% of the company’s stock.

About Mueller Industries (NYSE:MLI)

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

Read More: Example of operating income, EBIT and EBITDA

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