Mueller Industries (NYSE:MLI) Hits New 1-Year High at $73.09

Mueller Industries, Inc. (NYSE:MLI)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $73.09 and last traded at $72.31, with a volume of 25096 shares trading hands. The stock had previously closed at $70.94.

Mueller Industries Stock Performance

The company’s fifty day simple moving average is $68.27 and its two-hundred day simple moving average is $59.91. The stock has a market capitalization of $8.24 billion, a PE ratio of 14.54 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The business had revenue of $997.75 million during the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.10%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insider Transactions at Mueller Industries

In other news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The disclosure for this sale can be found here. Insiders sold a total of 103,000 shares of company stock worth $7,081,770 over the last ninety days. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mueller Industries

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Mueller Industries by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock valued at $666,524,000 after buying an additional 59,060 shares in the last quarter. TD Asset Management Inc lifted its position in Mueller Industries by 91.2% during the fourth quarter. TD Asset Management Inc now owns 89,300 shares of the industrial products company’s stock valued at $4,210,000 after buying an additional 42,600 shares in the last quarter. Congress Asset Management Co. MA lifted its position in Mueller Industries by 100.5% during the fourth quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock valued at $9,472,000 after buying an additional 100,696 shares in the last quarter. Perpetual Ltd lifted its position in Mueller Industries by 9.8% during the first quarter. Perpetual Ltd now owns 174,952 shares of the industrial products company’s stock valued at $9,435,000 after buying an additional 15,547 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Mueller Industries by 95.7% during the fourth quarter. Franklin Resources Inc. now owns 48,304 shares of the industrial products company’s stock valued at $2,278,000 after buying an additional 23,618 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Company Profile

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.