Mueller Industries, Inc. (NYSE:MLI) Stock Position Lifted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,359 shares of the industrial products company’s stock after acquiring an additional 795 shares during the period. Commonwealth Equity Services LLC’s holdings in Mueller Industries were worth $2,867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Mueller Industries by 9,366.4% in the 4th quarter. International Assets Investment Management LLC now owns 21,678 shares of the industrial products company’s stock worth $1,022,000 after purchasing an additional 21,449 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Mueller Industries by 102.6% in the fourth quarter. Truist Financial Corp now owns 15,142 shares of the industrial products company’s stock valued at $714,000 after buying an additional 7,668 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Mueller Industries by 123.6% in the fourth quarter. Russell Investments Group Ltd. now owns 38,627 shares of the industrial products company’s stock valued at $1,821,000 after buying an additional 21,350 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Mueller Industries by 60.6% during the 4th quarter. Natixis Advisors L.P. now owns 23,751 shares of the industrial products company’s stock valued at $1,119,000 after acquiring an additional 8,962 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Mueller Industries by 95.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,843 shares of the industrial products company’s stock worth $55,158,000 after acquiring an additional 572,687 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director John B. Hansen sold 8,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred 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 owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction 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 sale, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,000 shares of company stock valued at $7,081,770. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Up 0.0 %

Shares of Mueller Industries stock opened at $67.14 on Thursday. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $72.83. The firm has a market capitalization of $7.63 billion, a PE ratio of 13.45 and a beta of 1.03. The stock’s fifty day moving average is $66.37 and its 200-day moving average is $59.00.

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

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. Mueller Industries’s dividend payout ratio (DPR) is presently 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.