Mueller Industries, Inc. (NYSE:MLI) Director Gennaro J. Fulvio Sells 10,383 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Director Gennaro J. Fulvio sold 10,383 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $26.62, for a total transaction of $276,395.46. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $53,240. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of NYSE:MLI traded down $0.26 during trading on Thursday, reaching $26.33. The company had a trading volume of 823 shares, compared to its average volume of 309,051. The firm’s fifty day moving average is $28.22 and its 200 day moving average is $29.77. The firm has a market capitalization of $1.54 billion, a PE ratio of 14.15 and a beta of 1.35. Mueller Industries, Inc. has a twelve month low of $21.49 and a twelve month high of $34.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.91 and a current ratio of 3.24.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $666.93 million during the quarter. Mueller Industries had a net margin of 3.66% and a return on equity of 19.00%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. Equities analysts predict that Mueller Industries, Inc. will post 1.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, September 5th. Mueller Industries’s dividend payout ratio is currently 21.51%.

Several large investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Mueller Industries by 54.6% during the fourth quarter. Bank of America Corp DE now owns 136,284 shares of the industrial products company’s stock valued at $3,184,000 after acquiring an additional 48,130 shares during the last quarter. Norges Bank acquired a new position in shares of Mueller Industries during the fourth quarter valued at approximately $17,327,000. Geode Capital Management LLC raised its holdings in shares of Mueller Industries by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 606,533 shares of the industrial products company’s stock valued at $14,168,000 after acquiring an additional 45,128 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Mueller Industries by 1,191.8% during the first quarter. Meeder Asset Management Inc. now owns 8,203 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 7,568 shares during the last quarter. Finally, Brinker Capital Inc. acquired a new position in shares of Mueller Industries during the first quarter valued at approximately $326,000. 89.85% of the stock is owned by institutional investors.

MLI has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Mueller Industries from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research report on Saturday, July 27th. ValuEngine cut shares of Mueller Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

Mueller Industries Company Profile

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

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Insider Buying and Selling by Quarter for Mueller Industries (NYSE:MLI)

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