Mueller Industries, Inc. (NYSE:MLI) Director Charles P. Herzog, Jr. Sells 15,000 Shares

Mueller Industries, Inc. (NYSE:MLI) Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mueller Industries Stock Performance

NYSE MLI traded down $5.12 during trading hours on Friday, hitting $86.58. 1,198,121 shares of the company traded hands, compared to its average volume of 718,831. The business’s 50-day moving average is $79.24 and its 200-day moving average is $68.09. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 16.73 and a beta of 1.01. Mueller Industries, Inc. has a twelve month low of $40.43 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. The business’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Institutional Investors Weigh In On Mueller Industries

A number of institutional investors and hedge funds have recently modified their holdings of MLI. International Assets Investment Management LLC bought a new stake in Mueller Industries in the 2nd quarter valued at $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries in the second quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries in the second quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after buying an additional 146 shares during the last quarter. Finally, Westside Investment Management Inc. bought a new stake in shares of Mueller Industries during the 3rd quarter worth about $41,000. 94.50% of the stock is owned by institutional investors.

About Mueller Industries

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.