Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 3.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,333 shares of the industrial products company’s stock after selling 1,254 shares during the quarter. Amalgamated Bank’s holdings in Mueller Industries were worth $2,470,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC grew its position in Mueller Industries by 8,040.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 19,455 shares of the industrial products company’s stock valued at $1,442,000 after acquiring an additional 19,216 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Mueller Industries by 4.4% in the third quarter. QRG Capital Management Inc. now owns 94,818 shares of the industrial products company’s stock valued at $7,026,000 after purchasing an additional 4,009 shares in the last quarter. Van ECK Associates Corp increased its stake in Mueller Industries by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 72,704 shares of the industrial products company’s stock worth $5,889,000 after buying an additional 20,775 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Mueller Industries during the 3rd quarter worth approximately $64,000. Finally, Farther Finance Advisors LLC boosted its position in Mueller Industries by 1,322.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after buying an additional 7,843 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Up 1.0 %

Shares of NYSE MLI opened at $95.34 on Tuesday. Mueller Industries, Inc. has a 12-month low of $37.93 and a 12-month high of $96.81. The stock has a market cap of $10.84 billion, a P/E ratio of 18.51 and a beta of 1.01. The business’s fifty day simple moving average is $75.46 and its 200-day simple moving average is $66.32.

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

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.84%. Mueller Industries’s dividend payout ratio is presently 15.53%.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the business’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 directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock worth $6,626,940 over the last 90 days. Corporate insiders own 2.80% of the company’s stock.

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.