Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Creative Planning

Creative Planning grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 36.5% during the 3rd quarter, Holdings Channel reports. The firm owned 40,081 shares of the industrial products company’s stock after buying an additional 10,714 shares during the period. Creative Planning’s holdings in Mueller Industries were worth $2,970,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MLI. LSV Asset Management grew its position in shares of Mueller Industries by 44.1% in the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after purchasing an additional 641,114 shares during the last quarter. F M Investments LLC acquired a new stake in shares of Mueller Industries in the second quarter valued at approximately $14,441,000. Massachusetts Financial Services Co. MA grew its position in shares of Mueller Industries by 1,124.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock valued at $5,633,000 after purchasing an additional 90,841 shares during the last quarter. Bank of Montreal Can grew its position in shares of Mueller Industries by 163.6% in the second quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock valued at $6,790,000 after purchasing an additional 73,567 shares during the last quarter. Finally, Vest Financial LLC grew its position in shares of Mueller Industries by 18.2% in the second quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company’s stock valued at $23,597,000 after purchasing an additional 63,828 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. 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 is accessible through this hyperlink. In other news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock valued at $7,081,770 over the last quarter. Company insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

MLI stock opened at $81.85 on Friday. The company’s 50 day simple moving average is $71.78 and its 200-day simple moving average is $63.66. The firm has a market capitalization of $9.28 billion, a PE ratio of 15.89 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $36.88 and a 12 month high of $84.11.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.16. The business had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

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.