Mueller Industries (NYSE:MLI) Stock: Insider John Hansen Sells 2,000 Shares

Mueller Industries, Inc. (NYSE:MLI) Director John Hansen sold 2,000 shares of Mueller Industries stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $55.40, for a total value of $110,800.00. Following the completion of the sale, the director directly owned 179,078 shares in the company, valued at $9,920,921.20. This represents a 1.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $55.60 on Wednesday. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 14.26 and a beta of 1.01. The stock’s 50-day moving average is $60.05 and its 200-day moving average is $62.17. Mueller Industries, Inc. has a one year low of $52.00 and a one year high of $71.12.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.08). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.28 billion. Mueller Industries had a return on equity of 25.23% and a net margin of 17.26%. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a dividend of $0.1750 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, September 4th. Mueller Industries’s dividend payout ratio (DPR) is currently 17.95%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Mueller Industries from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, October 15th. Freedom Broker lowered their price target on shares of Mueller Industries from $80.00 to $76.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Finally, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $75.50.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Paragon Advisors LLC acquired a new stake in Mueller Industries during the third quarter worth approximately $222,000. Brighton Jones LLC boosted its holdings in shares of Mueller Industries by 87.2% during the third quarter. Brighton Jones LLC now owns 40,818 shares of the industrial products company’s stock worth $2,474,000 after acquiring an additional 19,019 shares during the period. Ethic Inc. grew its position in shares of Mueller Industries by 59.9% in the third quarter. Ethic Inc. now owns 18,377 shares of the industrial products company’s stock valued at $1,114,000 after purchasing an additional 6,884 shares during the last quarter. StoneX Group Inc. acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $314,000. Finally, Formidable Asset Management LLC acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $201,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

About Mueller Industries

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.