Insider Selling: Mueller Industries Director Unloads 2,000 Shares of Stock (MLI)
Mueller Industries (NYSE:MLI) Director Scott Jay Goldman sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $28.82, for a total transaction of $57,640.00. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $57,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Mueller Industries (NYSE:MLI) traded up 2.77% during mid-day trading on Monday, hitting $29.30. The stock had a trading volume of 183,600 shares. Mueller Industries has a 52 week low of $24.05 and a 52 week high of $32.13. The stock has a 50-day moving average of $29.31 and a 200-day moving average of $30.23. The company has a market cap of $1.661 billion and a price-to-earnings ratio of 9.40.
Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $574.40 million for the quarter, compared to the consensus estimate of $625.00 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts predict that Mueller Industries will post $1.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, May 29th.
Mueller Industries, Inc is a manufacturer of copper, brass, plastic, and aluminum products. The Company’s products include copper tube and fittings; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic pipe, fittings and valves; refrigeration valves and fittings; fabricated tubular products; and steel nipples.
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