Mueller Industries (NYSE:MLI) Trading Down 3.5% on Insider Selling

Mueller Industries, Inc. (NYSE:MLI)’s stock price traded down 3.5% during trading on Monday following insider selling activity. The company traded as low as $84.42 and last traded at $84.81. 645,585 shares were traded during mid-day trading, a decline of 11% from the average session volume of 726,447 shares. The stock had previously closed at $87.90.

Specifically, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction on 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 sale, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mueller Industries Trading Down 3.6 %

The company has a market cap of $9.64 billion, a P/E ratio of 17.07 and a beta of 1.01. The firm’s fifty day moving average price is $79.59 and its 200-day moving average price is $68.43.

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

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.94%. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Institutional Trading of Mueller Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BOKF NA lifted its holdings in Mueller Industries by 72.5% during the first quarter. BOKF NA now owns 7,156 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 3,007 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mueller Industries by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 92,346 shares of the industrial products company’s stock valued at $4,981,000 after purchasing an additional 4,477 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Mueller Industries by 24.0% in the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock valued at $5,971,000 after purchasing an additional 21,404 shares during the period. EMC Capital Management increased its stake in Mueller Industries by 233.9% during the 1st quarter. EMC Capital Management now owns 9,469 shares of the industrial products company’s stock worth $511,000 after purchasing an additional 6,633 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Mueller Industries during the 1st quarter worth approximately $267,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

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.