Choreo LLC Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Choreo LLC purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,551 shares of the industrial products company’s stock, valued at approximately $367,000.

A number of other institutional investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in shares of Mueller Industries by 117.8% during the 4th quarter. BNP Paribas Financial Markets now owns 116,167 shares of the industrial products company’s stock worth $5,477,000 after acquiring an additional 62,834 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Mueller Industries by 126.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,190 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 4,014 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Mueller Industries by 48.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,260 shares of the industrial products company’s stock valued at $437,000 after purchasing an additional 3,021 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Mueller Industries by 141.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,679 shares of the industrial products company’s stock worth $221,000 after buying an additional 2,740 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Mueller Industries by 100.0% during the 4th quarter. Panagora Asset Management Inc. now owns 7,600 shares of the industrial products company’s stock worth $358,000 after buying an additional 3,800 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.3 %

Mueller Industries stock opened at $70.50 on Tuesday. The company’s 50-day moving average price is $67.15 and its two-hundred day moving average price is $59.45. The stock has a market cap of $8.01 billion, a P/E ratio of 14.13 and a beta of 1.03. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $72.83.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.12. The business had revenue of $997.75 million during the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

Insider Buying and Selling at Mueller Industries

In other news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s 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 directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The disclosure for this sale can be found here. Insiders sold 103,000 shares of company stock valued at $7,081,770 in the last quarter. Company insiders own 2.80% of the company’s stock.

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.