Mueller Industries, Inc. (NYSE:MLI) CFO Jeffrey Andrew Martin sold 3,500 shares of Mueller Industries stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $32.01, for a total value of $112,035.00. Following the completion of the transaction, the chief financial officer now owns 111,146 shares in the company, valued at approximately $3,557,783.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mueller Industries, Inc. (MLI) traded down 0.62% during trading on Monday, reaching $32.05. The company’s stock had a trading volume of 14,144 shares. The stock has a 50 day moving average price of $29.96 and a 200 day moving average price of $31.48. Mueller Industries, Inc. has a 1-year low of $27.72 and a 1-year high of $43.96. The stock has a market capitalization of $1.85 billion, a PE ratio of 18.30 and a beta of 1.38.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, August 31st. Mueller Industries’s dividend payout ratio is currently 22.86%.

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Separately, BidaskClub lowered Mueller Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 18th.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its position in Mueller Industries by 21,108.4% in the 1st quarter. BlackRock Inc. now owns 7,127,706 shares of the industrial products company’s stock valued at $243,981,000 after purchasing an additional 7,094,098 shares in the last quarter. Vanguard Group Inc. raised its position in Mueller Industries by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,056,551 shares of the industrial products company’s stock valued at $153,973,000 after purchasing an additional 43,895 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Mueller Industries by 1.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 3,935,499 shares of the industrial products company’s stock valued at $119,836,000 after purchasing an additional 52,800 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Mueller Industries by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,127,791 shares of the industrial products company’s stock valued at $72,833,000 after purchasing an additional 32,343 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in Mueller Industries by 0.5% in the 2nd quarter. Gabelli Funds LLC now owns 2,106,100 shares of the industrial products company’s stock valued at $64,131,000 after purchasing an additional 10,000 shares in the last quarter. 91.12% of the stock is currently owned by institutional investors.

About Mueller Industries

Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.

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