Mueller Industries, Inc. (NYSE:MLI) insider Gary Westermeyer bought 2,000 shares of Mueller Industries stock in a transaction on Monday, November 26th. The shares were purchased at an average cost of $23.95 per share, for a total transaction of $47,900.00. Following the acquisition, the insider now owns 24,292 shares in the company, valued at $581,793.40. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Mueller Industries stock traded up $0.40 on Monday, reaching $24.13. 12,224 shares of the company were exchanged, compared to its average volume of 184,831. The company has a current ratio of 3.12, a quick ratio of 1.83 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 16.13 and a beta of 1.50. Mueller Industries, Inc. has a 1-year low of $23.32 and a 1-year high of $37.57.
Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The company had revenue of $645.96 million for the quarter, compared to analyst estimates of $583.39 million. Mueller Industries had a return on equity of 15.29% and a net margin of 3.37%. Sell-side analysts predict that Mueller Industries, Inc. will post 1.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, December 6th. Mueller Industries’s payout ratio is 26.85%.
A number of research analysts have commented on the company. ValuEngine downgraded Mueller Industries from a “hold” rating to a “sell” rating in a report on Monday, September 17th. Boenning Scattergood reaffirmed a “hold” rating on shares of Mueller Industries in a report on Tuesday, October 23rd. Zacks Investment Research downgraded Mueller Industries from a “hold” rating to a “strong sell” rating in a report on Friday, October 26th. Finally, TheStreet downgraded Mueller Industries from a “b-” rating to a “c+” rating in a report on Monday, October 29th.
Institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $359,000. United Services Automobile Association raised its position in shares of Mueller Industries by 20.8% during the 2nd quarter. United Services Automobile Association now owns 610,378 shares of the industrial products company’s stock worth $18,012,000 after purchasing an additional 105,240 shares during the period. Bank of New York Mellon Corp raised its position in shares of Mueller Industries by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 827,959 shares of the industrial products company’s stock worth $24,434,000 after purchasing an additional 10,289 shares during the period. Rhumbline Advisers raised its position in shares of Mueller Industries by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 157,900 shares of the industrial products company’s stock worth $4,660,000 after purchasing an additional 2,090 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 92.09% of the company’s stock.
Mueller Industries Company Profile
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
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