47,841 Shares in Mueller Industries, Inc. (NYSE:MLI) Purchased by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 47,841 shares of the industrial products company’s stock, valued at approximately $2,724,000.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in Mueller Industries in the second quarter worth approximately $26,000. Federated Hermes Inc. purchased a new position in shares of Mueller Industries in the 2nd quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries in the 2nd quarter worth $30,000. LifeSteps Financial Inc. purchased a new stake in shares of Mueller Industries during the 1st quarter worth $43,000. Finally, CWM LLC boosted its position in Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 223 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

MLI opened at $72.56 on Monday. The firm has a market capitalization of $8.24 billion, a PE ratio of 14.54 and a beta of 1.03. The business’s 50-day moving average is $68.27 and its two-hundred day moving average is $60.04. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $74.47.

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

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. Mueller Industries’s dividend payout ratio is presently 16.03%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. 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. 2.80% of the stock is currently owned by corporate insiders.

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.