Freedom Investment Management Inc. Has $1.29 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Freedom Investment Management Inc. decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 11.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,410 shares of the industrial products company’s stock after selling 2,310 shares during the quarter. Freedom Investment Management Inc.’s holdings in Mueller Industries were worth $1,290,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MLI. Price T Rowe Associates Inc. MD lifted its position in Mueller Industries by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 92,346 shares of the industrial products company’s stock valued at $4,981,000 after acquiring an additional 4,477 shares in the last quarter. Janus Henderson Group PLC lifted its position in Mueller Industries by 24.0% in the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock valued at $5,971,000 after acquiring an additional 21,404 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Mueller Industries during the 1st quarter worth approximately $267,000. Verity Asset Management Inc. lifted its position in shares of Mueller Industries by 6.8% during the 1st quarter. Verity Asset Management Inc. now owns 4,763 shares of the industrial products company’s stock worth $257,000 after buying an additional 303 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Mueller Industries during the 1st quarter worth approximately $1,325,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 0.6 %

Mueller Industries stock opened at $80.84 on Thursday. Mueller Industries, Inc. has a 52 week low of $40.52 and a 52 week high of $96.81. The company’s 50 day moving average price is $80.03 and its two-hundred day moving average price is $68.75. The stock has a market cap of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01.

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

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 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.