HWG Holdings LP Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

HWG Holdings LP bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 41,354 shares of the industrial products company’s stock, valued at approximately $2,355,000. Mueller Industries makes up about 0.9% of HWG Holdings LP’s portfolio, making the stock its 25th biggest position.

Several other institutional investors have also recently bought and sold shares of MLI. Vanguard Group Inc. raised its stake in Mueller Industries by 100.0% during the fourth quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock worth $579,945,000 after acquiring an additional 6,150,358 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Mueller Industries by 94.5% in the fourth quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock valued at $264,920,000 after buying an additional 2,729,382 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Mueller Industries by 93.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock valued at $181,496,000 after buying an additional 1,855,637 shares during the period. Gabelli Funds LLC increased its stake in shares of Mueller Industries by 94.2% in the fourth quarter. Gabelli Funds LLC now owns 2,461,800 shares of the industrial products company’s stock valued at $116,074,000 after buying an additional 1,193,900 shares during the period. Finally, Gates Capital Management Inc. increased its stake in shares of Mueller Industries by 58.4% in the fourth quarter. Gates Capital Management Inc. now owns 1,896,207 shares of the industrial products company’s stock valued at $89,406,000 after buying an additional 699,463 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the 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 completion of the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hansen sold 8,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the transaction, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,000 shares of company stock valued at $7,081,770. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Price Performance

Mueller Industries stock opened at $72.10 on Monday. The business has a 50 day moving average of $69.09 and a 200-day moving average of $60.73. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $74.47. The company has a market capitalization of $8.19 billion, a P/E ratio of 14.45 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) 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 company had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, September 6th. Mueller Industries’s dividend payout ratio is presently 16.03%.

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.