Royce & Associates LP Decreases Stake in Mueller Industries, Inc. (NYSE:MLI)

Royce & Associates LP decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 674,232 shares of the industrial products company's stock after selling 10,869 shares during the period. Royce & Associates LP owned approximately 0.59% of Mueller Industries worth $49,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MLI. International Assets Investment Management LLC acquired a new position in Mueller Industries during the 2nd quarter worth approximately $26,000. Federated Hermes Inc. acquired a new position in Mueller Industries during the second quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in Mueller Industries in the second quarter valued at $30,000. GAMMA Investing LLC boosted its position in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock worth $41,000 after purchasing an additional 146 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Mueller Industries by 61.7% during the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company's stock worth $55,000 after purchasing an additional 369 shares during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

MLI stock traded down $1.47 during trading on Friday, reaching $88.68. 719,091 shares of the company were exchanged, compared to its average volume of 720,088. Mueller Industries, Inc. has a 52-week low of $40.43 and a 52-week high of $96.81. The company has a market cap of $10.09 billion, a P/E ratio of 17.52 and a beta of 1.01. The stock's 50 day moving average price is $76.89 and its 200 day moving average price is $66.91.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $997.80 million during the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 0.90%. Mueller Industries's dividend payout ratio (DPR) is 15.53%.

Insiders Place Their Bets

In related news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries 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 transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The trade was a 3.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

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.