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

Mueller Industries, Inc. (NYSE:MLI) Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $87.90 on Friday. Mueller Industries, Inc. has a 1-year low of $40.43 and a 1-year high of $96.81. The company has a market capitalization of $10.00 billion, a PE ratio of 17.07 and a beta of 1.01. The business has a 50-day moving average of $79.59 and a 200-day moving average of $68.36.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million during 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%. The company’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, December 6th. Mueller Industries’s payout ratio is currently 15.53%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MLI. International Assets Investment Management LLC bought a new position in Mueller Industries during the second quarter worth $26,000. Federated Hermes Inc. bought a new position in shares of Mueller Industries in the 2nd quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $30,000. GAMMA Investing LLC grew its position 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 valued at $41,000 after buying an additional 146 shares during the last quarter. Finally, Westside Investment Management Inc. acquired a new stake in Mueller Industries during the third quarter worth about $41,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

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.