Algert Global LLC Buys 6,906 Shares of Mueller Industries, Inc. (NYSE:MLI)

Algert Global LLC grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,668 shares of the industrial products company’s stock after purchasing an additional 6,906 shares during the period. Algert Global LLC’s holdings in Mueller Industries were worth $5,163,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Miller Howard Investments Inc. NY lifted its holdings in Mueller Industries by 2.1% in the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock worth $409,000 after buying an additional 151 shares during the period. Summit Global Investments boosted its position in shares of Mueller Industries by 1.6% during the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 204 shares in the last quarter. CWM LLC boosted its position in shares of Mueller Industries by 36.9% during 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 in the last quarter. Hsbc Holdings PLC grew its stake in Mueller Industries by 1.8% in the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock worth $757,000 after purchasing an additional 233 shares during the period. Finally, Burney Co. raised its holdings in Mueller Industries by 0.8% in the second quarter. Burney Co. now owns 29,652 shares of the industrial products company’s stock worth $1,688,000 after purchasing an additional 236 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of Mueller Industries 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 transaction, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction 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 approximately $84,904,625.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction dated 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 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 sold a total of 103,000 shares of company stock valued at $7,081,770 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 0.7 %

Shares of MLI stock opened at $72.10 on Monday. The company’s fifty day moving average price is $69.09 and its 200-day moving average price is $60.73. The stock has a market cap of $8.19 billion, a PE ratio of 14.45 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $74.47.

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

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. Mueller Industries’s dividend payout ratio is currently 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.