ClariVest Asset Management LLC Acquires Shares of 9,341 Mueller Industries, Inc. (NYSE:MLI)

ClariVest Asset Management LLC acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,341 shares of the industrial products company’s stock, valued at approximately $532,000.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries during the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Mueller Industries during the 2nd quarter valued at $30,000. LifeSteps Financial Inc. bought a new stake in shares of Mueller Industries during the 1st quarter valued at $43,000. CWM LLC lifted its position in shares of Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Mueller Industries by 100.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the industrial products company’s stock valued at $47,000 after acquiring an additional 500 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. The sale was disclosed in a filing with the SEC, which is available through this link. In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was 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 of the company’s stock, valued at approximately $85,631,784.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, 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. Insiders sold a total of 103,000 shares of company stock worth $7,081,770 in the last ninety days. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Performance

NYSE:MLI opened at $68.26 on Friday. The stock has a fifty day moving average price of $66.59 and a 200-day moving average price of $59.06. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 13.68 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $72.83.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share 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 business had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Mueller Industries Company 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.