Bridgewater Associates LP Has $3.07 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Bridgewater Associates LP decreased its position in Mueller Industries, Inc. (NYSE:MLI) by 26.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,381 shares of the industrial products company’s stock after selling 15,159 shares during the period. Bridgewater Associates LP’s holdings in Mueller Industries were worth $3,066,000 at the end of the most recent quarter.

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

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the transaction, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % 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 Trading Down 0.1 %

MLI opened at $80.77 on Friday. The company has a fifty day moving average price of $80.53 and a two-hundred day moving average price of $69.07. Mueller Industries, Inc. has a 1-year low of $40.69 and a 1-year high of $96.81. The company 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 issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million during the quarter, compared to analyst estimates 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 was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

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