Fmr LLC Grows Stock Position in Mueller Industries, Inc. (NYSE:MLI)

FMR LLC boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,066,658 shares of the industrial products company's stock after buying an additional 27,399 shares during the period. FMR LLC owned 0.94% of Mueller Industries worth $79,039,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its position in Mueller Industries by 20.4% in 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 purchasing an additional 68,633 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of 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 buying an additional 7,843 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Mueller Industries by 314.6% during the second quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company's stock worth $2,166,000 after buying an additional 28,865 shares during the last quarter. Creative Planning increased its position in Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company's stock valued at $2,970,000 after acquiring an additional 10,714 shares during the period. Finally, Catalyst Capital Advisors LLC raised its stake in Mueller Industries by 8,040.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 19,455 shares of the industrial products company's stock valued at $1,442,000 after acquiring an additional 19,216 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated 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 owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the business'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 sale, the director now directly owns 17,733 shares in the company, valued at approximately $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 owned by insiders.

Mueller Industries Stock Performance

Shares of MLI stock remained flat at $78.73 during midday trading on Friday. The company's stock had a trading volume of 1,136,914 shares, compared to its average volume of 837,962. The firm has a market capitalization of $8.95 billion, a PE ratio of 15.19 and a beta of 0.99. The stock has a 50-day simple moving average of $81.17 and a 200 day simple moving average of $69.65. Mueller Industries, Inc. has a one year low of $41.94 and a one year 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 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 firm had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries's revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The company 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 dividend on an annualized basis and a yield of 1.02%. Mueller Industries's 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.