John B. Hansen Sells 1,000 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLI) Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction 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 directly owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $81.46 on Friday. The firm’s fifty day simple moving average is $73.09 and its 200-day simple moving average is $64.64. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 15.82 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $37.54 and a 12 month high of $84.11.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data 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. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries’s revenue for the quarter was up 21.7% on a year-over-year basis.

Hedge Funds Weigh In On Mueller Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of MLI. International Assets Investment Management LLC purchased a new position in Mueller Industries in the 2nd quarter valued at $26,000. Federated Hermes Inc. purchased a new stake in shares of Mueller Industries during the 2nd quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Mueller Industries during the 2nd quarter worth $30,000. GAMMA Investing LLC boosted its position in shares of Mueller Industries by 36.0% during 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 in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Mueller Industries by 61.7% during the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares in the last quarter. 94.50% of the stock is currently 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.