Mueller Industries (NYSE:MLI) Sets New 1-Year High After Dividend Announcement

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock traded as high as $96.61 and last traded at $95.90, with a volume of 15619 shares trading hands. The stock had previously closed at $94.40.

The newly announced dividend which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.84%. Mueller Industries's dividend payout ratio (DPR) is presently 15.53%.

Mueller Industries Stock Up 1.0 %

The firm's 50 day moving average is $75.01 and its 200-day moving average is $66.06. The firm has a market cap of $10.84 billion, a PE ratio of 18.33 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 23.25% and a net margin of 16.39%. The company's quarterly revenue was up 21.7% on a year-over-year basis.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now directly owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the business's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the sale, the chief executive officer now directly owns 1,214,311 shares of the company's stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,000 shares of company stock worth $6,626,940. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of Mueller Industries in the second quarter valued at about $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries during the second quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in Mueller Industries during the 2nd quarter valued at $30,000. GAMMA Investing LLC increased its stake in 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 buying an additional 146 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Mueller Industries by 61.7% in the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company's stock worth $55,000 after buying an additional 369 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.