Mueller Industries, Inc. (NYSE:MLI) Shares Sold by United Capital Management of KS Inc.

United Capital Management of KS Inc. decreased its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 21.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,565 shares of the industrial products company's stock after selling 22,655 shares during the quarter. Mueller Industries comprises 1.3% of United Capital Management of KS Inc.'s holdings, making the stock its 27th largest position. United Capital Management of KS Inc. owned 0.07% of Mueller Industries worth $5,970,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Private Advisor Group LLC acquired a new stake in shares of Mueller Industries during the 1st quarter worth approximately $461,000. SG Americas Securities LLC raised its position in Mueller Industries by 262.5% in the first quarter. SG Americas Securities LLC now owns 9,176 shares of the industrial products company's stock valued at $495,000 after purchasing an additional 6,645 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Mueller Industries by 1.9% in the 1st quarter. QRG Capital Management Inc. now owns 90,991 shares of the industrial products company's stock valued at $4,907,000 after purchasing an additional 1,653 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Mueller Industries by 21.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 8,758 shares of the industrial products company's stock worth $472,000 after purchasing an additional 1,568 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Mueller Industries by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 22,639 shares of the industrial products company's stock worth $1,221,000 after purchasing an additional 1,554 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Up 1.7 %

MLI stock traded up $1.57 during mid-day trading on Monday, hitting $95.97. 366,134 shares of the company were exchanged, compared to its average volume of 718,858. The business has a fifty day simple moving average of $75.01 and a 200-day simple moving average of $66.06. The firm has a market capitalization of $10.92 billion, a P/E ratio of 18.33 and a beta of 1.01. Mueller Industries, Inc. has a 12-month low of $37.93 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results 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. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. The company's revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.83%. Mueller Industries's payout ratio is 15.53%.

Insider Activity at Mueller Industries

In other news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the business's 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 completion of the transaction, the chief executive officer now owns 1,264,311 shares in the company, valued at $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction on 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 sale, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock worth $6,626,940 in the last three months. 2.80% of the stock is 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.