State Street Corp grew its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,451,143 shares of the industrial products company's stock after acquiring an additional 139,406 shares during the quarter. State Street Corp owned 3.91% of Mueller Industries worth $329,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of MLI. Stifel Financial Corp boosted its position in shares of Mueller Industries by 87.8% during the third quarter. Stifel Financial Corp now owns 185,590 shares of the industrial products company's stock valued at $13,752,000 after buying an additional 86,748 shares during the period. Systematic Financial Management LP lifted its stake in Mueller Industries by 1.6% in the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock worth $69,605,000 after acquiring an additional 14,729 shares during the period. Quantinno Capital Management LP lifted its position in shares of Mueller Industries by 18.4% in the 3rd quarter. Quantinno Capital Management LP now owns 5,153 shares of the industrial products company's stock worth $382,000 after purchasing an additional 801 shares during the period. Millburn Ridgefield Corp lifted its holdings in Mueller Industries by 447.7% during the third quarter. Millburn Ridgefield Corp now owns 1,309 shares of the industrial products company's stock worth $97,000 after buying an additional 1,070 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Mueller Industries during the third quarter valued at about $5,459,000. Institutional investors own 94.50% of the company's stock.
Mueller Industries Stock Up 2.7 %
Shares of Mueller Industries stock traded up $2.10 on Tuesday, reaching $80.16. The stock had a trading volume of 1,168,268 shares, compared to its average volume of 838,760. The company has a 50 day moving average price of $81.38 and a 200 day moving average price of $70.09. The stock has a market capitalization of $9.12 billion, a P/E ratio of 15.18 and a beta of 0.99. Mueller Industries, Inc. has a 1 year low of $41.94 and a 1 year high of $96.81.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. The firm had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. Mueller Industries's revenue was up 21.7% compared to the same quarter last year.
Mueller Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid 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 1.00%. Mueller Industries's payout ratio is currently 15.53%.
Insider Buying and Selling at Mueller Industries
In other news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.
About Mueller Industries
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Free Report)
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.
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