Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 36.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 552 shares of the industrial products company’s stock after acquiring an additional 146 shares during the quarter. GAMMA Investing LLC’s holdings in Mueller Industries were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Mueller Industries in the 2nd quarter worth about $26,000. Federated Hermes Inc. acquired a new position in Mueller Industries during the second quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries during the second quarter worth approximately $30,000. CWM LLC increased its position in shares of Mueller Industries by 36.9% in 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. Finally, Larson Financial Group LLC raised its stake in shares of Mueller Industries by 61.7% in the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 369 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 0.3 %

Shares of Mueller Industries stock opened at $74.00 on Friday. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $74.99. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 14.83 and a beta of 1.03. The company has a fifty day moving average price of $70.50 and a 200 day moving average price of $62.53.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (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 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. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.08%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insider Buying and Selling

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $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 available through the SEC website. In related 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 value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated 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 sale, 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. Over the last 90 days, insiders have sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is currently 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.