Harvest Fund Management Co. Ltd Purchases Shares of 7,973 Mueller Industries, Inc. (NYSE:MLI)

Harvest Fund Management Co. Ltd bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,973 shares of the industrial products company's stock, valued at approximately $591,000.

Several other hedge funds have also recently modified their holdings of MLI. LSV Asset Management increased its holdings in Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company's stock worth $119,271,000 after buying an additional 641,114 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Mueller Industries during the 3rd quarter valued at about $35,552,000. Charles Schwab Investment Management Inc. grew its stake in shares of Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company's stock worth $108,907,000 after acquiring an additional 315,490 shares during the period. F M Investments LLC purchased a new position in shares of Mueller Industries during the second quarter valued at approximately $14,441,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Mueller Industries by 1,124.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company's stock valued at $5,633,000 after purchasing an additional 90,841 shares during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Buying and Selling

In other news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction dated 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 directly owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated 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 sale, the director now owns 17,733 shares of the company's stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Mueller Industries Trading Down 0.6 %

NYSE:MLI traded down $0.51 during trading hours on Wednesday, reaching $80.83. The company had a trading volume of 930,502 shares, compared to its average volume of 832,271. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 15.64 and a beta of 1.01. The firm's 50 day moving average price is $80.03 and its 200-day moving average price is $68.75. Mueller Industries, Inc. has a 52 week low of $40.52 and a 52 week high of $96.81.

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

Mueller Industries Dividend Announcement

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