Xponance Inc. Increases Holdings in Mueller Industries, Inc. (NYSE:MLI)

Xponance Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,123 shares of the industrial products company’s stock after buying an additional 302 shares during the quarter. Xponance Inc.’s holdings in Mueller Industries were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Mueller Industries by 100.0% in the 4th 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 during the last quarter. First Trust Advisors LP raised its position in Mueller Industries by 94.5% in the 4th quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock worth $264,920,000 after purchasing an additional 2,729,382 shares during the period. Gamco Investors INC. ET AL boosted its position in Mueller Industries by 93.1% during 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 boosted its position in Mueller Industries by 94.2% during 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 holdings 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 worth $89,406,000 after buying an additional 699,463 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Trading Up 2.8 %

MLI opened at $74.10 on Tuesday. The company has a market cap of $8.42 billion, a P/E ratio of 14.85 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $74.47. The business’s 50-day moving average price is $69.29 and its 200-day moving average price is $60.89.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s payout ratio is 16.03%.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated Friday, August 9th. The shares were 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 in the company, valued at $6,449,257.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 transaction, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is currently owned by company insiders.

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.