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 firm’s 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 sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mueller Industries Price Performance

MLI stock traded down $0.15 on Thursday, reaching $82.85. The company’s stock had a trading volume of 240,262 shares, compared to its average volume of 713,602. The firm has a fifty day moving average of $72.62 and a two-hundred day moving average of $64.31. The company has a market capitalization of $9.41 billion, a P/E ratio of 16.63 and a beta of 1.03. Mueller Industries, Inc. has a 52 week low of $37.09 and a 52 week high of $84.11.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The company had revenue of $997.80 million for 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% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Mueller Industries during the second quarter valued at approximately $26,000. Federated Hermes Inc. bought a new position in shares of Mueller Industries in the second quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the second quarter worth approximately $30,000. GAMMA Investing LLC grew its position in Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Mueller Industries by 61.7% during the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after buying an additional 369 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

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.