Renaissance Technologies LLC Boosts Stake in Mueller Industries, Inc. (NYSE:MLI)

Renaissance Technologies LLC grew its stake in Mueller Industries, Inc. (NYSE:MLI) by 270.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,600 shares of the industrial products company’s stock after acquiring an additional 40,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Mueller Industries were worth $3,166,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MLI. International Assets Investment Management LLC acquired a new position in Mueller Industries during the 2nd quarter valued at about $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries during the second quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Mueller Industries in the 2nd quarter valued at approximately $30,000. LifeSteps Financial Inc. acquired a new stake in Mueller Industries in the 1st quarter worth approximately $43,000. Finally, CWM LLC grew its position in Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 223 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Activity

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the sale, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock valued at $7,081,770 in the last ninety days. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 0.7 %

NYSE MLI opened at $72.10 on Monday. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $74.47. The company has a fifty day simple moving average of $69.09 and a two-hundred day simple moving average of $60.73. The stock has a market cap of $8.19 billion, a P/E ratio of 14.45 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, beating 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 for the quarter.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, September 6th. Mueller Industries’s payout ratio is 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.