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

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director Charles P. Herzog, Jr. sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mueller Industries Stock Down 4.1 %

Mueller Industries stock traded down $3.80 during trading on Friday, reaching $87.90. The stock had a trading volume of 3,140,949 shares, compared to its average volume of 742,069. Mueller Industries, Inc. has a 52-week low of $40.43 and a 52-week high of $96.81. The stock has a market cap of $10.00 billion, a PE ratio of 17.07 and a beta of 1.01. The business has a 50 day moving average price of $79.59 and a 200 day moving average price of $68.36.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. The company had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. Mueller Industries's quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 payout ratio is 15.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in Mueller Industries in the 2nd quarter valued at approximately $26,000. Federated Hermes Inc. acquired a new stake in shares of Mueller Industries in the 2nd quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Mueller Industries in the second quarter valued at approximately $30,000. GAMMA Investing LLC grew its holdings in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock worth $41,000 after acquiring an additional 146 shares during the period. Finally, Westside Investment Management Inc. purchased a new position in Mueller Industries in the third quarter worth $41,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

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.