Premier Fund Managers Ltd Decreases Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Premier Fund Managers Ltd reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 28.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 70,800 shares of the industrial products company's stock after selling 28,200 shares during the period. Premier Fund Managers Ltd owned about 0.06% of Mueller Industries worth $5,103,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after buying an additional 146 shares during the period. Miller Howard Investments Inc. NY boosted its stake in shares of Mueller Industries by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company's stock valued at $409,000 after purchasing an additional 151 shares in the last quarter. Kapitalo Investimentos Ltda increased its holdings in Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company's stock valued at $340,000 after buying an additional 156 shares during the period. Summit Global Investments boosted its holdings in Mueller Industries by 1.6% in the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company's stock worth $731,000 after acquiring an additional 204 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Mueller Industries by 1.8% during the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company's stock worth $757,000 after acquiring an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Up 0.6 %

Shares of Mueller Industries stock traded up $0.56 during midday trading on Wednesday, hitting $91.24. The company had a trading volume of 154,371 shares, compared to its average volume of 715,561. The company has a fifty day simple moving average of $78.29 and a 200 day simple moving average of $67.76. The stock has a market cap of $10.38 billion, a price-to-earnings ratio of 17.61 and a beta of 1.01. Mueller Industries, Inc. has a 12-month low of $40.43 and a 12-month high of $96.81.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries's payout ratio is 15.53%.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $84,904,625.12. This trade represents a 3.95 % 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 1,000 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This trade 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 insiders.

Mueller Industries Company 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.