Cornercap Investment Counsel Inc. Has $332,000 Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Cornercap Investment Counsel Inc. trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 60.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,474 shares of the industrial products company's stock after selling 6,838 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Mueller Industries were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in Mueller Industries by 262.5% during the first quarter. SG Americas Securities LLC now owns 9,176 shares of the industrial products company's stock valued at $495,000 after purchasing an additional 6,645 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Mueller Industries by 21.8% during the first quarter. Avantax Advisory Services Inc. now owns 8,758 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 1,568 shares during the period. ProShare Advisors LLC lifted its stake in Mueller Industries by 7.4% in the first quarter. ProShare Advisors LLC now owns 22,639 shares of the industrial products company's stock worth $1,221,000 after acquiring an additional 1,554 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Mueller Industries by 0.7% in the first quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company's stock worth $1,771,000 after acquiring an additional 240 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Mueller Industries by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company's stock worth $666,524,000 after acquiring an additional 59,060 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The trade was a 3.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares of the company's stock, valued at $7,886,404.26. This 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 company insiders.

Mueller Industries Price Performance

Shares of MLI stock traded up $1.68 during mid-day trading on Monday, hitting $90.36. 577,807 shares of the stock traded hands, compared to its average volume of 719,449. The stock has a market cap of $10.28 billion, a P/E ratio of 17.22 and a beta of 1.01. The stock's fifty day moving average is $77.35 and its two-hundred day moving average is $67.28. Mueller Industries, Inc. has a 52-week low of $40.43 and a 52-week high of $96.81.

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

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 paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries's payout ratio is 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.