Rowlandmiller & PARTNERS.ADV Has $382,000 Holdings in Mueller Industries, Inc. (NYSE:MLI)

Rowlandmiller & PARTNERS.ADV lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 87.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,150 shares of the industrial products company’s stock after buying an additional 2,400 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in Mueller Industries were worth $382,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MLI. International Assets Investment Management LLC bought a new stake in Mueller Industries during the 2nd quarter worth approximately $26,000. Federated Hermes Inc. bought a new stake in Mueller Industries during the 2nd quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC grew its position in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Mueller Industries by 61.7% during the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 369 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Price Performance

NYSE MLI opened at $81.79 on Friday. The firm has a market cap of $9.29 billion, a PE ratio of 16.39 and a beta of 1.03. Mueller Industries, Inc. has a one year low of $36.39 and a one year high of $84.11. The stock’s 50 day simple moving average is $71.51 and its 200 day simple moving average is $63.39.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. Mueller Industries’s revenue for the quarter was up 21.7% on a year-over-year basis.

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 given 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 0.98%. Mueller Industries’s payout ratio is 16.03%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction 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 directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction 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 directly owns 1,264,311 shares in the company, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction 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 directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,000 shares of company stock worth $7,081,770. Insiders own 2.80% of the company’s stock.

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.