Creative Planning Purchases 10,714 Shares of Mueller Industries, Inc. (NYSE:MLI)

Creative Planning grew its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 36.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 40,081 shares of the industrial products company's stock after acquiring an additional 10,714 shares during the quarter. Creative Planning's holdings in Mueller Industries were worth $2,970,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLI. Measured Wealth Private Client Group LLC grew its position in Mueller Industries by 5.1% in the first quarter. Measured Wealth Private Client Group LLC now owns 10,991 shares of the industrial products company's stock worth $593,000 after acquiring an additional 538 shares in the last quarter. United Capital Management of KS Inc. increased its position in shares of Mueller Industries by 3.0% during the 1st quarter. United Capital Management of KS Inc. now owns 101,327 shares of the industrial products company's stock valued at $5,465,000 after purchasing an additional 2,934 shares during the last quarter. First Trust Direct Indexing L.P. bought a new position in shares of Mueller Industries during the 1st quarter valued at approximately $210,000. Van ECK Associates Corp raised its holdings in Mueller Industries by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 47,059 shares of the industrial products company's stock valued at $2,538,000 after buying an additional 12,586 shares during the period. Finally, Private Advisor Group LLC bought a new stake in Mueller Industries in the first quarter worth $461,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Trading Up 0.1 %

Shares of MLI stock traded up $0.05 during trading hours on Friday, reaching $81.85. 1,023,640 shares of the stock were exchanged, compared to its average volume of 716,059. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 15.89 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $36.88 and a 12-month high of $84.11. The company's 50-day moving average price is $71.78 and its 200-day moving average price is $63.74.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $936.00 million. Mueller Industries's revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries's dividend payout ratio (DPR) is presently 15.53%.

Insider Activity

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. In other news, CEO Gregory L. Christopher sold 45,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,264,311 shares of the company's stock, valued at approximately $85,631,784.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction that occurred on Friday, August 9th. The shares were 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 approximately $6,449,257.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,000 shares of company stock valued at $7,081,770. Corporate insiders own 2.80% of the company's stock.

About Mueller Industries

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.