Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 2,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $33.15, for a total value of $66,300.00. Following the completion of the transaction, the director now directly owns 45,607 shares in the company, valued at $1,511,872.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Mueller Industries, Inc. (MLI) traded down $0.22 during mid-day trading on Friday, reaching $34.69. The company had a trading volume of 117,584 shares, compared to its average volume of 154,898. The company has a current ratio of 2.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.73. Mueller Industries, Inc. has a fifty-two week low of $27.72 and a fifty-two week high of $43.96. The firm has a market cap of $2.01 billion, a P/E ratio of 20.66 and a beta of 1.42.
Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.39 earnings per share for the quarter. Mueller Industries had a return on equity of 15.68% and a net margin of 4.39%. The business had revenue of $550.36 million for the quarter.
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Separately, BidaskClub downgraded Mueller Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 18th.
Hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC raised its stake in Mueller Industries by 0.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,185,502 shares of the industrial products company’s stock worth $36,099,000 after buying an additional 4,832 shares during the period. Bank of America Corp DE increased its holdings in Mueller Industries by 34.0% during the 1st quarter. Bank of America Corp DE now owns 202,186 shares of the industrial products company’s stock worth $6,921,000 after purchasing an additional 51,294 shares in the last quarter. Paloma Partners Management Co bought a new stake in Mueller Industries during the 1st quarter worth approximately $486,000. BNP Paribas Arbitrage SA increased its holdings in Mueller Industries by 66.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,376 shares of the industrial products company’s stock worth $620,000 after purchasing an additional 8,114 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in Mueller Industries by 2.0% during the 2nd quarter. Epoch Investment Partners Inc. now owns 660,801 shares of the industrial products company’s stock worth $20,122,000 after purchasing an additional 13,189 shares in the last quarter. 91.23% of the stock is currently owned by institutional investors and hedge funds.
About Mueller Industries
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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