Assetmark Inc. Purchases 21,119 Shares of Mueller Industries, Inc. (NYSE:MLI)

Assetmark Inc. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 20.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,625 shares of the industrial products company's stock after buying an additional 21,119 shares during the quarter. Assetmark Inc. owned 0.11% of Mueller Industries worth $9,087,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MLI. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $30,000. GAMMA Investing LLC grew its stake in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after buying an additional 146 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at approximately $64,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Performance

Shares of NYSE MLI traded up $0.94 during trading hours on Monday, hitting $95.34. The stock had a trading volume of 691,766 shares, compared to its average volume of 720,352. The company has a market capitalization of $10.84 billion, a P/E ratio of 18.33 and a beta of 1.01. The firm's 50-day moving average price is $75.01 and its two-hundred day moving average price is $66.06. Mueller Industries, Inc. has a 52 week low of $37.93 and a 52 week high of $96.81.

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

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.84%. Mueller Industries's payout ratio is currently 15.53%.

Insiders Place Their Bets

In other news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares of the company's stock, valued at approximately $85,631,784.03. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gregory L. Christopher sold 45,000 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares of the company's stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock valued at $6,626,940 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Mueller Industries 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.