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 Mueller Industries stock in a transaction that occurred 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 completion of the transaction, the director now owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Mueller Industries Price Performance

MLI stock opened at $81.97 on Friday. The business has a fifty day moving average price of $72.62 and a 200 day moving average price of $64.31. Mueller Industries, Inc. has a fifty-two week low of $37.09 and a fifty-two week high of $84.11. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 15.92 and a beta of 1.03.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MLI. First Trust Direct Indexing L.P. acquired a new stake in shares of Mueller Industries in the 1st quarter valued at $210,000. Van ECK Associates Corp increased its position in Mueller Industries by 36.5% in the first quarter. Van ECK Associates Corp now owns 47,059 shares of the industrial products company’s stock worth $2,538,000 after purchasing an additional 12,586 shares during the period. Private Advisor Group LLC bought a new stake in Mueller Industries during the 1st quarter worth about $461,000. Worth Financial Advisory Group LLC acquired a new position in Mueller Industries during the 1st quarter valued at about $209,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Mueller Industries in the 1st quarter valued at about $689,000. 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.