Private Advisory Group LLC purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,736 shares of the industrial products company's stock, valued at approximately $796,000.
Several other institutional investors and hedge funds also recently made changes to their positions in MLI. Teachers Retirement System of The State of Kentucky increased its holdings in Mueller Industries by 100.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 36,808 shares of the industrial products company's stock valued at $1,735,000 after purchasing an additional 18,404 shares during the period. American International Group Inc. increased its stake in shares of Mueller Industries by 98.3% in the fourth quarter. American International Group Inc. now owns 61,094 shares of the industrial products company's stock valued at $2,881,000 after buying an additional 30,289 shares during the period. Tortoise Investment Management LLC raised its position in shares of Mueller Industries by 100.0% during the fourth quarter. Tortoise Investment Management LLC now owns 3,638 shares of the industrial products company's stock worth $172,000 after acquiring an additional 1,819 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Mueller Industries by 38.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 613,862 shares of the industrial products company's stock worth $28,944,000 after acquiring an additional 171,930 shares during the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in shares of Mueller Industries by 100.5% in the fourth quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company's stock worth $9,472,000 after acquiring an additional 100,696 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.
In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the stock in a transaction that occurred 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 approximately $6,449,257.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Mueller Industries 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 value of $3,496,000.00. Following the completion of 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 8,000 shares of the company's stock in a transaction dated 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 owns 95,914 shares in the company, valued at $6,449,257.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is owned by corporate insiders.
NYSE:MLI opened at $72.84 on Friday. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $74.47. The company has a 50 day simple moving average of $69.95 and a two-hundred day simple moving average of $61.98. The company has a market capitalization of $8.27 billion, a PE ratio of 14.60 and a beta of 1.03.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The business had revenue of $997.75 million during the quarter.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 1.10%. Mueller Industries's dividend payout ratio is currently 16.03%.
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.
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