Isthmus Partners LLC Sells 14,849 Shares of Mueller Industries, Inc. (NYSE:MLI)

Isthmus Partners LLC cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 20.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,401 shares of the industrial products company's stock after selling 14,849 shares during the period. Isthmus Partners LLC's holdings in Mueller Industries were worth $4,179,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund grew its holdings in shares of Mueller Industries by 20.4% during the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company's stock valued at $30,056,000 after acquiring an additional 68,633 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company's stock valued at $625,000 after purchasing an additional 7,843 shares in the last quarter. SG Americas Securities LLC increased its position in Mueller Industries by 314.6% in the 2nd quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company's stock worth $2,166,000 after purchasing an additional 28,865 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Mueller Industries by 24.0% during the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company's stock worth $5,971,000 after purchasing an additional 21,404 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of Mueller Industries by 36.5% during the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company's stock valued at $2,970,000 after buying an additional 10,714 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Price Performance

NYSE:MLI traded up $0.01 during mid-day trading on Friday, reaching $80.84. The stock had a trading volume of 694,802 shares, compared to its average volume of 831,677. The stock has a market cap of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01. The business's 50 day moving average is $80.37 and its 200 day moving average is $68.92. Mueller Industries, Inc. has a fifty-two week low of $40.69 and a fifty-two week high of $96.81.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.99%. Mueller Industries's dividend payout ratio is currently 15.53%.

Insider Transactions at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm's 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 directly owns 17,733 shares of the company's stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 completion of the transaction, the director now 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 disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

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.