Mueller Industries, Inc. (NYSE:MLI - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $84.23 and last traded at $84.09, with a volume of 149521 shares trading hands. The stock had previously closed at $83.00.
Mueller Industries Price Performance
The stock has a 50 day moving average price of $73.33 and a two-hundred day moving average price of $65.03. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 16.13 and a beta of 1.01.
Mueller Industries (NYSE:MLI - Get Free Report) last issued its 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. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. The business's revenue was up 21.7% compared to the same quarter last year.
Insider Transactions at Mueller Industries
In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Gregory L. Christopher sold 45,000 shares of the firm's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the transaction, the chief executive officer now directly owns 1,264,311 shares of the company's stock, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares of the company's stock, valued at $7,886,404.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,000 shares of company stock valued at $7,164,860. 2.80% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of MLI. First Trust Direct Indexing L.P. purchased a new stake in Mueller Industries in the first quarter valued at approximately $210,000. Private Advisor Group LLC bought a new stake in Mueller Industries in the 1st quarter worth $461,000. Jennison Associates LLC increased its position in shares of Mueller Industries by 2.3% in the first quarter. Jennison Associates LLC now owns 20,563 shares of the industrial products company's stock valued at $1,109,000 after acquiring an additional 469 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Mueller Industries during the first quarter valued at about $642,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Mueller Industries by 15.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,488 shares of the industrial products company's stock worth $620,000 after purchasing an additional 1,554 shares during the period. 94.50% of the stock is owned by institutional investors.
About Mueller Industries
(
Get Free Report)
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.
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