FCF Advisors LLC Sells 2,818 Shares of Mueller Industries, Inc. (NYSE:MLI)

FCF Advisors LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,449 shares of the industrial products company’s stock after selling 2,818 shares during the quarter. FCF Advisors LLC’s holdings in Mueller Industries were worth $2,404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MLI. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries during the second quarter worth about $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries during the second quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the second quarter worth about $30,000. GAMMA Investing LLC raised its holdings in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares in the last quarter. Finally, CWM LLC raised its holdings in Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 223 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

MLI traded down $0.54 on Tuesday, hitting $71.35. 173,437 shares of the company were exchanged, compared to its average volume of 704,762. The stock’s fifty day moving average is $69.72 and its 200-day moving average is $61.57. The company has a market cap of $8.11 billion, a PE ratio of 14.40 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.

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

Mueller Industries Announces Dividend

The business also recently declared 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 1.12%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insider Buying and Selling

In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated 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 transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, August 14th. The stock was 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 approximately $85,631,784.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock valued at $7,081,770 over the last 90 days. 2.80% of the stock is 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.