Citigroup Inc. Raises Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Citigroup Inc. raised its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 48.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,833 shares of the industrial products company's stock after acquiring an additional 48,045 shares during the period. Citigroup Inc. owned approximately 0.13% of Mueller Industries worth $10,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $26,000. Federated Hermes Inc. bought a new stake in shares of Mueller Industries during the second quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Mueller Industries during the second quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of Mueller Industries by 36.0% in the third 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 increased its stake in Mueller Industries by 61.7% in the 2nd 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 during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company'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 transaction, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares of the company's stock, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Performance

Mueller Industries stock traded up $0.01 during trading hours on Friday, hitting $80.84. The company had a trading volume of 694,802 shares, compared to its average volume of 831,677. The firm has a market cap of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01. The company has a 50-day moving average price of $80.37 and a two-hundred day moving average price of $68.92. Mueller Industries, Inc. has a 1 year low of $40.69 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.16. The company had revenue of $997.80 million for 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 company's revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. Mueller Industries's payout ratio is presently 15.53%.

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.