Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its position in Mueller Industries, Inc. (NYSE:MLI) by 37.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,400 shares of the industrial products company’s stock after selling 252,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.38% of Mueller Industries worth $24,340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MLI. GM Advisory Group LLC acquired a new position in Mueller Industries in the 2nd quarter valued at about $205,000. Intech Investment Management LLC acquired a new position in shares of Mueller Industries in the second quarter valued at approximately $2,724,000. Hsbc Holdings PLC increased its stake in Mueller Industries by 1.8% during the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock worth $757,000 after buying an additional 233 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Mueller Industries by 9.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,114 shares of the industrial products company’s stock worth $576,000 after buying an additional 895 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Mueller Industries by 7.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 84,474 shares of the industrial products company’s stock valued at $4,810,000 after buying an additional 5,623 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s 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 sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 $6,449,257.36. The disclosure for this sale can be found here. Insiders sold 103,000 shares of company stock worth $7,081,770 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 1.5 %

Mueller Industries stock opened at $72.56 on Friday. The firm has a market capitalization of $8.24 billion, a P/E ratio of 14.54 and a beta of 1.03. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $74.47. The stock’s fifty day simple moving average is $68.27 and its 200-day simple moving average is $59.91.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid 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 1.10%. Mueller Industries’s dividend payout ratio is currently 16.03%.

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.