Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen Sells 1,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLIGet Rating) Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $68.94, for a total value of $68,940.00. Following the completion of the transaction, the director now owns 55,885 shares in the company, valued at $3,852,711.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Mueller Industries Price Performance

MLI traded down $0.24 during trading on Thursday, reaching $69.00. 150,423 shares of the stock traded hands, compared to its average volume of 284,142. The stock’s 50-day simple moving average is $62.62 and its two-hundred day simple moving average is $60.20. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 6.06 and a beta of 1.09. Mueller Industries, Inc. has a fifty-two week low of $49.42 and a fifty-two week high of $70.38.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, December 1st. Mueller Industries’s dividend payout ratio is currently 8.79%.

Hedge Funds Weigh In On Mueller Industries

A number of large investors have recently added to or reduced their stakes in MLI. Truist Financial Corp bought a new position in shares of Mueller Industries during the first quarter worth approximately $467,000. Versor Investments LP lifted its stake in Mueller Industries by 252.1% in the 1st quarter. Versor Investments LP now owns 16,551 shares of the industrial products company’s stock worth $897,000 after purchasing an additional 11,851 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Mueller Industries by 4.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 50,039 shares of the industrial products company’s stock worth $2,711,000 after buying an additional 2,315 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Mueller Industries by 37.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,996 shares of the industrial products company’s stock valued at $1,949,000 after purchasing an additional 9,833 shares during the last quarter. Finally, Bridgewater Advisors Inc. grew its holdings in shares of Mueller Industries by 1.5% during the 1st quarter. Bridgewater Advisors Inc. now owns 31,765 shares of the industrial products company’s stock valued at $1,721,000 after purchasing an additional 467 shares during the last quarter. Institutional investors own 90.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Mueller Industries in a research note on Wednesday, October 12th. They set a “buy” rating for the company.

Mueller Industries Company Profile

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

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