Charles Schwab Investment Management Inc. Grows Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 27.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,469,736 shares of the industrial products company's stock after acquiring an additional 315,490 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.29% of Mueller Industries worth $108,907,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MLI. GAMMA Investing LLC lifted its stake in Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock worth $41,000 after purchasing an additional 146 shares in the last quarter. Miller Howard Investments Inc. NY boosted its stake in Mueller Industries by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company's stock valued at $409,000 after buying an additional 151 shares during the period. Kapitalo Investimentos Ltda grew its position in Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company's stock worth $340,000 after buying an additional 156 shares in the last quarter. Summit Global Investments increased its stake in Mueller Industries by 1.6% in the 2nd quarter. Summit Global Investments now owns 12,844 shares of the industrial products company's stock worth $731,000 after acquiring an additional 204 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Mueller Industries by 1.8% in the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company's stock valued at $757,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Down 1.0 %

Shares of MLI traded down $0.86 during trading hours on Tuesday, reaching $81.29. 1,774,747 shares of the company's stock traded hands, compared to its average volume of 831,830. The firm's 50 day simple moving average is $79.82 and its 200-day simple moving average is $68.59. The stock has a market cap of $9.25 billion, a PE ratio of 15.69 and a beta of 1.01. Mueller Industries, Inc. has a 12 month low of $40.52 and a 12 month high of $96.81.

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

Mueller Industries Announces Dividend

The company 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 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 0.98%. Mueller Industries's payout ratio is 15.53%.

Insiders Place Their Bets

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 transaction of $1,380,600.00. Following the transaction, 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 filing with the Securities & Exchange Commission, 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 approximately $7,886,404.26. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.

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.