Canandaigua National Bank & Trust Co. Sells 580 Shares of Mueller Industries, Inc. (NYSE:MLI)

Canandaigua National Bank & Trust Co. reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,610 shares of the industrial products company’s stock after selling 580 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Mueller Industries were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Mueller Industries by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock valued at $666,524,000 after purchasing an additional 59,060 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of 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 purchasing an additional 1,855,637 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Mueller Industries by 44.1% during the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after purchasing an additional 641,114 shares in the last quarter. Gates Capital Management Inc. lifted its holdings in shares of Mueller Industries by 58.4% during 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 purchasing an additional 699,463 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Mueller Industries by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock valued at $66,988,000 after purchasing an additional 7,756 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Activity at Mueller Industries

In related news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the transaction, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is owned by insiders.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $72.64 on Friday. The company has a market cap of $8.25 billion, a P/E ratio of 14.56 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $74.47. The stock’s fifty day moving average price is $69.66 and its 200-day moving average price is $61.39.

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, beating analysts’ consensus estimates of $1.29 by $0.12. The company 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors 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 1.10%. The ex-dividend date was Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

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.