Versor Investments LP Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Versor Investments LP purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,100 shares of the industrial products company's stock, valued at approximately $674,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. LSV Asset Management increased its holdings in shares of Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company's stock worth $119,271,000 after buying an additional 641,114 shares during the last quarter. Fiera Capital Corp purchased a new position in Mueller Industries during the 3rd quarter valued at $35,552,000. F M Investments LLC bought a new stake in shares of Mueller Industries during the second quarter worth $14,441,000. Massachusetts Financial Services Co. MA increased its stake in Mueller Industries by 1,124.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company's stock worth $5,633,000 after buying an additional 90,841 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Mueller Industries by 163.6% during the second quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company's stock worth $6,790,000 after acquiring an additional 73,567 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Down 0.8 %

NYSE:MLI traded down $0.75 during midday trading on Thursday, hitting $90.25. The stock had a trading volume of 763,624 shares, compared to its average volume of 720,087. The stock has a 50-day moving average of $76.89 and a 200 day moving average of $66.91. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 17.52 and a beta of 1.01. Mueller Industries, Inc. has a one year low of $40.43 and a one year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business'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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, December 6th. Mueller Industries's dividend payout ratio (DPR) is 15.53%.

Insider Buying and Selling

In related news, 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 transaction of $83,090.00. Following the sale, the director now directly owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the chief executive officer now directly owns 1,214,311 shares of the company's stock, valued at $84,904,625.12. The trade was a 3.95 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate 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.