Millennium Management LLC Has $6.04 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Millennium Management LLC cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 31.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,997 shares of the industrial products company’s stock after selling 48,527 shares during the quarter. Millennium Management LLC’s holdings in Mueller Industries were worth $6,035,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Mueller Industries by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after acquiring an additional 59,060 shares during the period. Congress Asset Management Co. MA lifted its holdings in Mueller Industries by 100.5% in the fourth quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock valued at $9,472,000 after buying an additional 100,696 shares during the period. Perpetual Ltd lifted its stake in shares of Mueller Industries by 9.8% in the 1st quarter. Perpetual Ltd now owns 174,952 shares of the industrial products company’s stock valued at $9,435,000 after purchasing an additional 15,547 shares during the period. Teachers Retirement System of The State of Kentucky grew its holdings in Mueller Industries by 100.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 36,808 shares of the industrial products company’s stock worth $1,735,000 after purchasing an additional 18,404 shares during the period. Finally, Gates Capital Management Inc. increased its stake in Mueller Industries by 58.4% in the fourth quarter. Gates Capital Management Inc. now owns 1,896,207 shares of the industrial products company’s stock valued at $89,406,000 after purchasing an additional 699,463 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

MLI stock opened at $71.21 on Friday. The company’s 50-day moving average is $69.83 and its 200-day moving average is $61.84. The stock has a market capitalization of $8.09 billion, a PE ratio of 14.27 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $74.47.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The company 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued 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 1.12%. Mueller Industries’s dividend payout ratio is presently 16.03%.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 8,000 shares of the firm’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 owns 95,914 shares in the company, valued at $6,449,257.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Mueller Industries 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 value of $3,496,000.00. Following the completion of the sale, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the 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 sale, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,000 shares of company stock valued at $7,081,770. 2.80% of the stock is owned by corporate 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.