Mercer Global Advisors Inc. ADV Has $4.81 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Mercer Global Advisors Inc. ADV raised its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,474 shares of the industrial products company’s stock after purchasing an additional 5,623 shares during the period. Mercer Global Advisors Inc. ADV owned 0.07% of Mueller Industries worth $4,810,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MLI. Miller Howard Investments Inc. NY increased its holdings in Mueller Industries by 2.1% in the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock worth $409,000 after buying an additional 151 shares during the last quarter. Summit Global Investments increased its stake in shares of Mueller Industries by 1.6% during the 2nd quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 204 shares during the last quarter. CWM LLC increased its stake in shares of Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 223 shares during the last quarter. Burney Co. lifted its stake in shares of Mueller Industries by 0.8% in the 2nd quarter. Burney Co. now owns 29,652 shares of the industrial products company’s stock valued at $1,688,000 after purchasing an additional 236 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in Mueller Industries by 0.7% in the first quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company’s stock worth $1,771,000 after purchasing an additional 240 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

NYSE MLI opened at $72.56 on Friday. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $74.47. The stock’s 50-day moving average is $68.27 and its two-hundred day moving average is $59.97. The firm has a market cap of $8.24 billion, a P/E ratio of 14.54 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. The business 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 Announces Dividend

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

Insider Buying and Selling

In related 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 value of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the firm’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 sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the transaction, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The disclosure for this sale can be found here. In the last three months, insiders sold 103,000 shares of company stock valued at $7,081,770. 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.