Martingale Asset Management L P lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 7.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 85,073 shares of the industrial products company's stock after selling 6,908 shares during the period. Martingale Asset Management L P owned 0.07% of Mueller Industries worth $6,304,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its holdings in shares of Mueller Industries by 20.4% during 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 lifted its position in Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company's stock valued at $625,000 after purchasing an additional 7,843 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Mueller Industries by 314.6% in the 2nd 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 in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Mueller Industries by 24.0% in the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company's stock worth $5,971,000 after buying an additional 21,404 shares during the last quarter. Finally, Creative Planning raised its position in shares of Mueller Industries by 36.5% during the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company's stock valued at $2,970,000 after buying an additional 10,714 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.
Mueller Industries Stock Down 0.1 %
MLI traded down $0.06 on Friday, hitting $80.77. The company had a trading volume of 694,802 shares, compared to its average volume of 831,677. The business's fifty day simple moving average is $80.53 and its 200 day simple moving average is $69.07. Mueller Industries, Inc. has a 12-month low of $40.69 and a 12-month high of $96.81. The company has a market cap of $9.19 billion, a PE ratio of 15.70 and a beta of 1.01.
Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.16. The company had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business's revenue was up 21.7% compared to the same quarter last year.
Mueller Industries Dividend Announcement
The company also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. Mueller Industries's dividend payout ratio is presently 15.53%.
Insider Activity at Mueller Industries
In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction on 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 completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 in the company, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.
Mueller Industries Profile
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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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