Barlow Wealth Partners Inc. Increases Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Barlow Wealth Partners Inc. increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,747 shares of the industrial products company’s stock after buying an additional 2,922 shares during the quarter. Mueller Industries accounts for about 1.9% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 22nd largest position. Barlow Wealth Partners Inc. owned approximately 0.18% of Mueller Industries worth $14,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new stake in shares of Mueller Industries in the fourth quarter worth about $508,000. Gates Capital Management Inc. raised its holdings in Mueller Industries by 58.4% in the 4th quarter. Gates Capital Management Inc. now owns 1,896,207 shares of the industrial products company’s stock worth $89,406,000 after purchasing an additional 699,463 shares during the period. Gamco Investors INC. ET AL raised its holdings in Mueller Industries by 93.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after purchasing an additional 1,855,637 shares during the period. Palisade Capital Management LP raised its holdings in Mueller Industries by 84.9% in the 4th quarter. Palisade Capital Management LP now owns 1,017,026 shares of the industrial products company’s stock worth $47,953,000 after purchasing an additional 467,035 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Mueller Industries by 100.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 36,808 shares of the industrial products company’s stock valued at $1,735,000 after acquiring an additional 18,404 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Up 1.2 %

Shares of Mueller Industries stock traded up $0.84 during mid-day trading on Wednesday, reaching $72.78. 28,127 shares of the stock traded hands, compared to its average volume of 703,373. The business has a 50-day moving average of $69.75 and a 200 day moving average of $61.70. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $74.47. The stock has a market capitalization of $8.27 billion, a PE ratio of 14.42 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last announced its earnings results 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. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The business had revenue of $997.75 million during the quarter.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.10%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insider Activity

In related news, 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 completion of the transaction, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,000 shares of company stock worth $7,081,770 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

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.