Janney Montgomery Scott LLC Lowers Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Janney Montgomery Scott LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,305 shares of the industrial products company’s stock after selling 228 shares during the period. Janney Montgomery Scott LLC’s holdings in Mueller Industries were worth $986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. LSV Asset Management boosted its holdings in Mueller Industries by 44.1% in the 2nd 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 period. F M Investments LLC purchased a new stake in shares of Mueller Industries in the second quarter worth $14,441,000. Massachusetts Financial Services Co. MA boosted its stake in Mueller Industries by 1,124.4% during 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 buying an additional 90,841 shares during the period. Bank of Montreal Can grew its position in Mueller Industries by 163.6% during the second quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock worth $6,790,000 after buying an additional 73,567 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Mueller Industries by 20.4% in the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after acquiring an additional 68,633 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 1.6 %

MLI stock opened at $88.68 on Friday. The company’s 50 day moving average is $77.35 and its 200 day moving average is $67.20. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 17.22 and a beta of 1.01. Mueller Industries, Inc. has a 1-year low of $40.43 and a 1-year high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. The company’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now directly owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the 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 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 3.95 % decrease in their position. The disclosure for this sale can be found here. Company 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.