Jacobs Levy Equity Management Inc. Takes $5.46 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Jacobs Levy Equity Management Inc. bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 73,675 shares of the industrial products company's stock, valued at approximately $5,459,000. Jacobs Levy Equity Management Inc. owned about 0.06% of Mueller Industries as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MLI. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries during the second quarter valued at about $26,000. Federated Hermes Inc. acquired a new position in Mueller Industries during the 2nd quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Mueller Industries in the second quarter worth $30,000. GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock worth $41,000 after buying an additional 146 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Mueller Industries during the third quarter valued at $64,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

MLI traded down $0.01 on Friday, reaching $78.72. 1,136,914 shares of the stock were exchanged, compared to its average volume of 2,019,631. The company's 50-day moving average price is $81.30 and its 200 day moving average price is $69.79. The firm has a market capitalization of $8.95 billion, a PE ratio of 15.29 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $41.94 and a fifty-two week high of $96.81.

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, 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 the consensus estimate of $936.00 million. The company's revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.02%. Mueller Industries's dividend payout ratio is presently 15.53%.

Insider Buying and Selling at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

About Mueller Industries

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.