Gregory L. Christopher Sells 50,000 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLI) CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mueller Industries Trading Down 0.1 %

NYSE MLI opened at $70.71 on Tuesday. The company’s fifty day simple moving average is $63.31 and its 200-day simple moving average is $57.39. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $72.68. The stock has a market cap of $8.03 billion, a P/E ratio of 14.17 and a beta of 1.06.

Mueller Industries (NYSE:MLI) last posted its 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. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The business had revenue of $997.75 million for the quarter.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 1.13%. Mueller Industries’s dividend payout ratio is presently 16.03%.

Institutional Trading of Mueller Industries

Several institutional investors have recently added to or reduced their stakes in MLI. Vanguard Group Inc. raised its holdings in Mueller Industries by 100.0% in the fourth quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock valued at $579,945,000 after acquiring an additional 6,150,358 shares in the last quarter. First Trust Advisors LP raised its holdings in Mueller Industries by 94.5% in the fourth quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock valued at $264,920,000 after acquiring an additional 2,729,382 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Mueller Industries by 97.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,172,082 shares of the industrial products company’s stock valued at $196,718,000 after acquiring an additional 2,055,506 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Mueller Industries by 93.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock valued at $181,496,000 after acquiring an additional 1,855,637 shares in the last quarter. Finally, Norges Bank acquired a new stake in Mueller Industries in the fourth quarter valued at $59,606,000. 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.