Posted by admin on Jul 27th, 2022

Mueller Industries, Inc. (NYSE:MLI – Get Rating) Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $64.27, for a total value of $64,270.00. Following the sale, the director now directly owns 59,885 shares of the company’s stock, valued at $3,848,808.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

MLI opened at $64.46 on Wednesday. Mueller Industries, Inc. has a 12 month low of $40.15 and a 12 month high of $64.85. The stock has a market capitalization of $3.65 billion, a P/E ratio of 5.53 and a beta of 1.05. The business has a 50 day simple moving average of $54.80 and a 200-day simple moving average of $55.40.

Mueller Industries (NYSE:MLI – Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The industrial products company reported $3.65 earnings per share for the quarter. Mueller Industries had a return on equity of 46.35% and a net margin of 16.14%. The firm had revenue of $1.15 billion during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.55%. The ex-dividend date was Thursday, June 2nd. Mueller Industries’s payout ratio is currently 8.58%.

Several analysts have recently commented on the company. StockNews.com cut Mueller Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 15th. Northcoast Research assumed coverage on Mueller Industries in a report on Monday, July 18th. They issued a “buy” rating for the company.

Several hedge funds have recently bought and sold shares of MLI. Allspring Global Investments Holdings LLC purchased a new position in Mueller Industries in the 4th quarter valued at approximately $246,966,000. Fuller & Thaler Asset Management Inc. purchased a new position in Mueller Industries during the first quarter worth $29,681,000. Goldman Sachs Group Inc. increased its position in Mueller Industries by 78.8% during the first quarter. Goldman Sachs Group Inc. now owns 535,688 shares of the industrial products company’s stock worth $29,018,000 after buying an additional 236,056 shares in the last quarter. LSV Asset Management increased its position in Mueller Industries by 616.1% during the first quarter. LSV Asset Management now owns 260,647 shares of the industrial products company’s stock worth $14,119,000 after buying an additional 224,247 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Mueller Industries during the first quarter worth $10,305,000. 88.66% of the stock is owned by hedge funds and other institutional investors.

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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

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