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

Mueller Industries, Inc. (NYSE:MLI) Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mueller Industries Trading Down 4.1 %

Mueller Industries stock opened at $87.90 on Friday. The stock has a fifty day moving average price of $79.59 and a 200 day moving average price of $68.36. Mueller Industries, Inc. has a 52 week low of $40.43 and a 52 week high of $96.81. The firm has a market capitalization of $10.00 billion, a P/E ratio of 17.07 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. The business’s quarterly revenue 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. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.91%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Institutional Trading of Mueller Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings 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 purchasing an additional 146 shares during the period. Miller Howard Investments Inc. NY raised its stake in shares of Mueller Industries by 2.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 151 shares during the period. Kapitalo Investimentos Ltda boosted its position in Mueller Industries by 3.5% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 156 shares during the period. GM Advisory Group LLC increased its holdings in Mueller Industries by 5.3% in the 3rd quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 192 shares in the last quarter. Finally, Summit Global Investments raised its position in Mueller Industries by 1.6% in the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 204 shares during the period. 94.50% of the stock is currently 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.