Mueller Industries (NYSE:MLI) Sets New 52-Week High at $60.66

Mueller Industries, Inc. (NYSE:MLI)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $60.66 and last traded at $60.65, with a volume of 72742 shares traded. The stock had previously closed at $59.30.

Mueller Industries Trading Up 1.0 %

The business has a 50-day moving average of $57.16 and a 200 day moving average of $52.94. The firm has a market capitalization of $6.80 billion, a PE ratio of 12.00 and a beta of 1.06.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.21 earnings per share for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The company had revenue of $849.65 million for the quarter.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. Mueller Industries’s payout ratio is presently 16.03%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the transaction, the director now owns 24,733 shares in the company, valued at approximately $1,427,836.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John B. Hansen sold 2,733 shares of Mueller Industries stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $58.61, for a total value of $160,181.13. Following the sale, the director now owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth M. Donovan sold 2,000 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the transaction, the director now directly owns 24,733 shares of the company’s stock, valued at $1,427,836.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,169 shares of company stock valued at $3,506,762. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MLI. SG Americas Securities LLC raised its stake in Mueller Industries by 314.6% in the 2nd quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock valued at $2,166,000 after acquiring an additional 28,865 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Mueller Industries in the second quarter valued at approximately $30,000. CWM LLC lifted its stake in shares of Mueller Industries by 113.8% during the 2nd quarter. CWM LLC now owns 1,768 shares of the industrial products company’s stock valued at $101,000 after buying an additional 941 shares in the last quarter. Boston Partners bought a new position in Mueller Industries in the 1st quarter worth approximately $1,325,000. Finally, Verity Asset Management Inc. boosted its holdings in Mueller Industries by 6.8% in the 1st quarter. Verity Asset Management Inc. now owns 4,763 shares of the industrial products company’s stock worth $257,000 after buying an additional 303 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

About Mueller Industries

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.