Mueller Industries (NYSE:MLI) Hits New 52-Week High at $54.59

Mueller Industries, Inc. (NYSE:MLI)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $54.59 and last traded at $54.59, with a volume of 118091 shares changing hands. The stock had previously closed at $53.40.

Wall Street Analysts Forecast Growth

MLI has been the topic of a number of research reports. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

Mueller Industries Trading Up 1.0 %

The company has a market cap of $6.13 billion, a P/E ratio of 10.14 and a beta of 1.08. The company has a 50-day simple moving average of $50.17 and a 200 day simple moving average of $44.48.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. Mueller Industries had a return on equity of 27.59% and a net margin of 17.63%. The business had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.48%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, March 14th. Mueller Industries’s dividend payout ratio is presently 15.05%.

Insider Transactions at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at $18,263,870. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now directly owns 18,000 shares in the company, valued at approximately $887,940. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Mueller Industries

Institutional investors have recently bought and sold shares of the business. F&V Capital Management LLC boosted its holdings in shares of Mueller Industries by 100.0% in the fourth quarter. F&V Capital Management LLC now owns 164,890 shares of the industrial products company’s stock valued at $7,775,000 after acquiring an additional 82,445 shares during the period. Qube Research & Technologies Ltd grew its stake in shares of Mueller Industries by 181.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 57,165 shares of the industrial products company’s stock valued at $4,297,000 after purchasing an additional 36,835 shares during the last quarter. Linden Thomas Advisory Services LLC acquired a new position in shares of Mueller Industries in the third quarter valued at approximately $705,000. Quantbot Technologies LP acquired a new stake in shares of Mueller Industries during the third quarter worth $954,000. Finally, California Public Employees Retirement System raised its position in Mueller Industries by 43.5% during the 3rd quarter. California Public Employees Retirement System now owns 110,229 shares of the industrial products company’s stock worth $8,285,000 after buying an additional 33,422 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

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.