Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Fmr LLC

Fmr LLC increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,066,658 shares of the industrial products company’s stock after buying an additional 27,399 shares during the quarter. Fmr LLC owned about 0.94% of Mueller Industries worth $79,039,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. LSV Asset Management increased its holdings in 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 period. Charles Schwab Investment Management Inc. increased its holdings in Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after buying an additional 315,490 shares during the period. Bank of New York Mellon Corp increased its holdings in Mueller Industries by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock worth $66,988,000 after buying an additional 7,756 shares during the period. Fiera Capital Corp acquired a new position in Mueller Industries in the 3rd quarter worth approximately $35,552,000. Finally, Vest Financial LLC increased its holdings in Mueller Industries by 18.2% in the 2nd quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company’s stock worth $23,597,000 after buying an additional 63,828 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 0.4 %

Shares of NYSE:MLI opened at $78.96 on Friday. Mueller Industries, Inc. has a twelve month low of $41.94 and a twelve month high of $96.81. The company’s 50 day moving average is $81.02 and its 200 day moving average is $69.58. The company has a market cap of $8.98 billion, a PE ratio of 15.28 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. The business’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.01%. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

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.