Mueller Industries, Inc. (NYSE:MLI - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $81.32 and last traded at $81.32, with a volume of 163087 shares traded. The stock had previously closed at $72.08.
Mueller Industries Trading Up 14.1 %
The stock has a market capitalization of $9.34 billion, a P/E ratio of 16.66 and a beta of 1.03. The company has a 50-day moving average price of $70.68 and a 200 day moving average price of $62.94.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.12. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The firm had revenue of $997.75 million for the quarter.
Mueller Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 0.97%. Mueller Industries's dividend payout ratio (DPR) is 16.03%.
Insider Buying and Selling
In related news, Director John B. Hansen sold 8,000 shares of the business's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 1,214,311 shares of the company's stock, valued at approximately $84,904,625.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the transaction, the director now directly owns 95,914 shares of the company's stock, valued at $6,449,257.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock worth $7,081,770 in the last ninety days. 2.80% of the stock is owned by insiders.
Institutional Trading of Mueller Industries
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Narwhal Capital Management increased its stake in shares of Mueller Industries by 114.2% during the third quarter. Narwhal Capital Management now owns 29,836 shares of the industrial products company's stock worth $2,211,000 after purchasing an additional 15,904 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Mueller Industries by 12.3% during the third quarter. Sequoia Financial Advisors LLC now owns 5,394 shares of the industrial products company's stock worth $400,000 after acquiring an additional 592 shares during the last quarter. Retirement Guys Formula LLC acquired a new position in Mueller Industries during the third quarter worth about $200,000. Raymond James & Associates boosted its position in Mueller Industries by 6.9% during the third quarter. Raymond James & Associates now owns 65,848 shares of the industrial products company's stock worth $4,879,000 after acquiring an additional 4,226 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Mueller Industries by 36.3% during the third quarter. Blue Trust Inc. now owns 5,178 shares of the industrial products company's stock worth $384,000 after acquiring an additional 1,378 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.
About Mueller Industries
(
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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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