HWG Holdings LP Buys 12,971 Shares of Mueller Industries, Inc. (NYSE:MLI)

HWG Holdings LP boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 31.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,325 shares of the industrial products company's stock after buying an additional 12,971 shares during the period. Mueller Industries makes up about 1.4% of HWG Holdings LP's portfolio, making the stock its 23rd biggest holding. HWG Holdings LP's holdings in Mueller Industries were worth $4,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rowlandmiller & PARTNERS.ADV boosted its stake in Mueller Industries by 87.3% during the third quarter. Rowlandmiller & PARTNERS.ADV now owns 5,150 shares of the industrial products company's stock valued at $382,000 after buying an additional 2,400 shares during the last quarter. Eagle Ridge Investment Management bought a new stake in shares of Mueller Industries in the 3rd quarter valued at approximately $201,000. Ausbil Investment Management Ltd lifted its stake in shares of Mueller Industries by 3.9% in the 3rd quarter. Ausbil Investment Management Ltd now owns 53,257 shares of the industrial products company's stock valued at $3,946,000 after purchasing an additional 1,989 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Mueller Industries by 3,760.7% in the 3rd quarter. International Assets Investment Management LLC now owns 17,875 shares of the industrial products company's stock valued at $1,325,000 after purchasing an additional 17,412 shares during the last quarter. Finally, Narwhal Capital Management lifted its stake in shares of Mueller Industries by 114.2% in the 3rd quarter. Narwhal Capital Management now owns 29,836 shares of the industrial products company's stock valued at $2,211,000 after purchasing an additional 15,904 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Price Performance

Shares of NYSE:MLI traded up $0.05 during trading on Friday, hitting $81.85. The company had a trading volume of 1,023,470 shares, compared to its average volume of 716,059. The stock has a market cap of $9.28 billion, a price-to-earnings ratio of 15.89 and a beta of 1.03. Mueller Industries, Inc. has a one year low of $36.88 and a one year high of $84.11. The company has a fifty day simple moving average of $71.51 and a two-hundred day simple moving average of $63.39.

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 (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.16. The business had revenue of $997.80 million during 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 firm's revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.20 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 0.98%. Mueller Industries's payout ratio is 15.53%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the transaction, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is currently owned by company insiders.

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.