3,600 Shares in Mueller Industries, Inc. (NYSE:MLI) Purchased by GM Advisory Group LLC

GM Advisory Group LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,600 shares of the industrial products company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Mueller Industries during the second quarter worth about $26,000. Federated Hermes Inc. bought a new stake in Mueller Industries during the second quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in Mueller Industries during the second quarter worth about $30,000. LifeSteps Financial Inc. acquired a new position in Mueller Industries during the first quarter worth about $43,000. Finally, CWM LLC raised its stake 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.

Insider Activity

In other news, Director John B. Hansen sold 8,000 shares of the company’s 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 owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 of the company’s stock, valued at approximately $6,449,257.36. The disclosure for this sale can be found here. Insiders sold 103,000 shares of company stock valued at $7,081,770 over the last quarter. 2.80% of the stock is owned by company insiders.

Mueller Industries Trading Down 1.5 %

Shares of NYSE MLI opened at $72.56 on Friday. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 14.54 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. The stock has a 50-day moving average price of $68.27 and a two-hundred day moving average price of $59.91.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.29 by $0.12. The firm 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s payout ratio is 16.03%.

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.