Mueller Industries, Inc. (NYSE:MLI) Director Sells $83,090.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mueller Industries Stock Performance

Shares of NYSE:MLI traded down $0.15 during midday trading on Thursday, hitting $82.85. 240,262 shares of the company’s stock traded hands, compared to its average volume of 713,602. The firm’s fifty day moving average price is $72.62 and its two-hundred day moving average price is $64.31. Mueller Industries, Inc. has a twelve month low of $37.09 and a twelve month high of $84.11. The company has a market cap of $9.41 billion, a PE ratio of 16.63 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.16. The firm had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year.

Institutional Investors Weigh In On Mueller Industries

A number of institutional investors have recently modified their holdings of MLI. LSV Asset Management lifted its holdings in Mueller Industries by 44.1% in the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after acquiring an additional 641,114 shares during the last quarter. F M Investments LLC bought a new stake in shares of Mueller Industries in the 2nd quarter worth approximately $14,441,000. Massachusetts Financial Services Co. MA boosted its position in Mueller Industries by 1,124.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock valued at $5,633,000 after purchasing an additional 90,841 shares during the period. Bank of Montreal Can grew its stake in Mueller Industries by 163.6% during the 2nd quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock worth $6,790,000 after buying an additional 73,567 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after buying an additional 68,633 shares during the period. Institutional investors 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.