Narwhal Capital Management Raises Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Narwhal Capital Management boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 114.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,836 shares of the industrial products company's stock after purchasing an additional 15,904 shares during the quarter. Narwhal Capital Management's holdings in Mueller Industries were worth $2,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Mueller Industries by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company's stock worth $666,524,000 after purchasing an additional 59,060 shares during the period. LSV Asset Management increased its holdings in shares of Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company's stock valued at $119,271,000 after acquiring an additional 641,114 shares during the period. Bank of New York Mellon Corp raised its position in shares of Mueller Industries by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company's stock worth $66,988,000 after acquiring an additional 7,756 shares in the last quarter. Vest Financial LLC lifted its stake in shares of Mueller Industries by 18.2% during the 2nd quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company's stock worth $23,597,000 after purchasing an additional 63,828 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Mueller Industries by 7.0% during the first quarter. Bessemer Group Inc. now owns 358,479 shares of the industrial products company's stock valued at $19,333,000 after purchasing an additional 23,471 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares of the company's stock, valued at approximately $6,449,257.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the firm's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares of the company's stock, valued at approximately $6,449,257.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the business's stock in a transaction on Thursday, August 22nd. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock worth $7,081,770 in the last ninety days. 2.80% of the stock is owned by insiders.

Mueller Industries Price Performance

Mueller Industries stock traded down $1.25 during trading hours on Wednesday, reaching $80.98. The stock had a trading volume of 1,078,729 shares, compared to its average volume of 713,709. Mueller Industries, Inc. has a 52 week low of $35.53 and a 52 week high of $84.11. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 16.10 and a beta of 1.03. The business's 50 day moving average price is $70.97 and its 200-day moving average price is $63.14.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping 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 16.19% and a return on equity of 22.86%. The business's revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. Mueller Industries's payout ratio is 16.03%.

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.