Millennium Management LLC Has $6.04 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Millennium Management LLC cut its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 31.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,997 shares of the industrial products company’s stock after selling 48,527 shares during the quarter. Millennium Management LLC owned 0.09% of Mueller Industries worth $6,035,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MLI. Vanguard Group Inc. grew 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 valued at $579,945,000 after acquiring an additional 6,150,358 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Mueller Industries by 93.1% during 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 last quarter. Gates Capital Management Inc. grew its holdings in 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 worth $89,406,000 after purchasing an additional 699,463 shares during the period. LSV Asset Management increased its position in 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 worth $119,271,000 after buying an additional 641,114 shares during the last quarter. Finally, Palisade Capital Management LP raised its stake 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 valued at $47,953,000 after acquiring an additional 467,035 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Price Performance

MLI stock opened at $71.21 on Friday. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 14.27 and a beta of 1.03. The company has a fifty day moving average price of $69.83 and a two-hundred day moving average price of $61.84. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $74.47.

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

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.20 dividend. 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 16.03%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 8,000 shares of the stock in a transaction 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 sale, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock worth $7,081,770 in the last 90 days. Company insiders own 2.80% of the company’s stock.

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.