Intech Investment Management LLC Raises Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Intech Investment Management LLC increased its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 32.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,248 shares of the industrial products company's stock after purchasing an additional 15,407 shares during the quarter. Intech Investment Management LLC owned 0.06% of Mueller Industries worth $4,687,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MLI. Advisors Asset Management Inc. boosted its holdings in shares of Mueller Industries by 5.5% during the third quarter. Advisors Asset Management Inc. now owns 36,174 shares of the industrial products company's stock worth $2,680,000 after purchasing an additional 1,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Mueller Industries during the third quarter worth approximately $1,922,000. Quest Partners LLC increased its holdings in shares of Mueller Industries by 107,875.0% in the third quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company's stock valued at $320,000 after buying an additional 4,315 shares in the last quarter. Archer Investment Corp grew its position in Mueller Industries by 29.4% during the 3rd quarter. Archer Investment Corp now owns 2,200 shares of the industrial products company's stock worth $163,000 after purchasing an additional 500 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Mueller Industries during the 3rd quarter valued at $243,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mueller Industries

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 value of $83,090.00. Following the completion of the transaction, the director now directly 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 legal filing with the SEC, which can be accessed through this link. 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 transaction of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares of the company's stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Mueller Industries Trading Down 4.1 %

Mueller Industries stock traded down $3.80 on Friday, reaching $87.90. 3,140,949 shares of the stock were exchanged, compared to its average volume of 742,069. The stock has a market cap of $10.00 billion, a PE ratio of 17.05 and a beta of 1.01. Mueller Industries, Inc. has a twelve month low of $40.43 and a twelve month high of $96.81. The firm has a fifty day moving average price of $79.59 and a two-hundred day moving average price of $68.29.

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

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 yield of 0.91%. Mueller Industries's dividend payout ratio is currently 15.53%.

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.