Mueller Industries, Inc. (NYSE:MLI) Shares Sold by MRP Capital Investments LLC

MRP Capital Investments LLC reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,145 shares of the industrial products company’s stock after selling 675 shares during the quarter. MRP Capital Investments LLC’s holdings in Mueller Industries were worth $521,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in Mueller Industries in the second quarter worth approximately $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries during the second quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the second quarter worth $30,000. LifeSteps Financial Inc. purchased a new position in Mueller Industries in the first quarter valued at $43,000. Finally, CWM LLC raised its stake in Mueller Industries by 36.9% in the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after buying an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $70.94 on Thursday. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $72.83. The stock has a market cap of $8.06 billion, a P/E ratio of 14.22 and a beta of 1.03. The stock has a 50-day simple moving average of $67.46 and a 200-day simple moving average of $59.59.

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

Mueller Industries Dividend Announcement

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

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the sale, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the transaction, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,000 shares of company stock worth $7,081,770. Company insiders own 2.80% of the company’s stock.

About Mueller Industries

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.