Advisors Asset Management Inc. Has $2.68 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Advisors Asset Management Inc. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,174 shares of the industrial products company’s stock after buying an additional 1,900 shares during the quarter. Advisors Asset Management Inc.’s holdings in Mueller Industries were worth $2,680,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. New York State Common Retirement Fund boosted its stake in shares of Mueller Industries by 20.4% in the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after purchasing an additional 68,633 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after buying an additional 7,843 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Mueller Industries by 314.6% during the second quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock worth $2,166,000 after buying an additional 28,865 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Mueller Industries by 24.0% during the first quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after buying an additional 21,404 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock valued at $2,970,000 after acquiring an additional 10,714 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Mueller Industries Stock Down 4.1 %

Shares of MLI stock opened at $87.90 on Friday. Mueller Industries, Inc. has a twelve month low of $40.43 and a twelve month high of $96.81. The stock’s fifty day simple moving average is $79.59 and its 200 day simple moving average is $68.36. The firm has a market capitalization of $10.00 billion, a P/E ratio of 17.07 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.16. The company had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. Mueller Industries’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.91%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

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.