Atomi Financial Group Inc. Acquires New Shares in Mueller Industries, Inc. (NYSE:MLI)

Atomi Financial Group Inc. bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,941 shares of the industrial products company’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Mueller Industries during the 2nd quarter worth $26,000. Federated Hermes Inc. acquired a new position in Mueller Industries in the second quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in Mueller Industries during the second quarter worth about $30,000. GAMMA Investing LLC increased its position in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 146 shares during the last quarter. Finally, CWM LLC raised its stake 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 valued at $45,000 after acquiring an additional 223 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the transaction, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on 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 transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock worth $7,081,770 over the last three months. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI stock opened at $72.84 on Friday. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $74.47. The firm’s 50 day moving average price is $69.95 and its 200-day moving average price is $62.04. The firm has a market cap of $8.27 billion, a P/E ratio of 14.60 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, topping 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 during the quarter.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, September 6th. 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.