Xponance Inc. Purchases 302 Shares of Mueller Industries, Inc. (NYSE:MLI)

Xponance Inc. increased its position in Mueller Industries, Inc. (NYSE:MLI) by 4.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,123 shares of the industrial products company’s stock after purchasing an additional 302 shares during the period. Xponance Inc.’s holdings in Mueller Industries were worth $406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Mueller Industries in the 2nd quarter worth about $26,000. Federated Hermes Inc. purchased a new stake in Mueller Industries in the second quarter worth about $28,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries during the second quarter valued at approximately $30,000. LifeSteps Financial Inc. bought a new position in shares of Mueller Industries during the first quarter valued at approximately $43,000. Finally, CWM LLC boosted its position in shares of Mueller Industries by 36.9% in 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 in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Up 2.8 %

Mueller Industries stock opened at $74.10 on Tuesday. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $74.47. The company has a market capitalization of $8.42 billion, a P/E ratio of 14.85 and a beta of 1.03. The stock’s 50 day moving average is $69.29 and its 200 day moving average is $60.89.

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

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.20 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.08%. Mueller Industries’s dividend payout ratio is presently 16.03%.

Insider Activity

In related news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 in the company, valued at approximately $6,449,257.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 transaction of $537,920.00. Following the sale, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated 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 approximately $84,904,625.12. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock worth $7,081,770 over the last 90 days. 2.80% of the stock is currently owned by insiders.

About Mueller Industries

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.