The Manufacturers Life Insurance Company Sells 1,185 Shares of Mueller Industries, Inc. (NYSE:MLI)

The Manufacturers Life Insurance Company trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 63,081 shares of the industrial products company’s stock after selling 1,185 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Mueller Industries worth $4,674,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MLI. New York State Common Retirement Fund grew its holdings 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. Farther Finance Advisors LLC increased its holdings in Mueller Industries by 1,322.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 7,843 shares during the period. SG Americas Securities LLC raised its position in Mueller Industries by 314.6% during the 2nd quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock valued at $2,166,000 after purchasing an additional 28,865 shares during the last quarter. Creative Planning lifted its holdings in Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after buying an additional 10,714 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its holdings 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 worth $1,442,000 after buying an additional 19,216 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated 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 disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

MLI opened at $78.73 on Friday. The stock’s 50 day moving average price is $81.30 and its 200-day moving average price is $69.79. Mueller Industries, Inc. has a 52-week low of $41.94 and a 52-week high of $96.81. The stock has a market capitalization of $8.95 billion, a PE ratio of 15.29 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $936.00 million. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

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 issued a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 1.02%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Mueller Industries Company 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.