Van ECK Associates Corp Boosts Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Van ECK Associates Corp grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,929 shares of the industrial products company’s stock after purchasing an additional 4,870 shares during the period. Van ECK Associates Corp’s holdings in Mueller Industries were worth $2,957,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Mueller Industries in the second quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries in the 2nd quarter worth about $30,000. Montag A & Associates Inc. bought a new position in Mueller Industries in the 4th quarter worth about $34,000. LifeSteps Financial Inc. purchased a new position in shares of Mueller Industries during the first quarter worth approximately $43,000. Finally, CWM LLC boosted its holdings in shares of Mueller Industries by 36.9% in the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 223 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction that occurred on 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 directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction dated 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 approximately $85,631,784.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Down 1.5 %

Shares of NYSE:MLI opened at $66.87 on Friday. The business’s 50 day moving average is $65.56 and its 200 day moving average is $58.42. The stock has a market cap of $7.60 billion, a P/E ratio of 13.40 and a beta of 1.06. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $72.83.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The business had revenue of $997.75 million for the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

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.