SageView Advisory Group LLC Sells 2,557 Shares of Mueller Industries, Inc. (NYSE:MLI)

SageView Advisory Group LLC lowered its holdings in Mueller Industries, Inc. (NYSE:MLI) by 18.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,427 shares of the industrial products company’s stock after selling 2,557 shares during the period. SageView Advisory Group LLC’s holdings in Mueller Industries were worth $847,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Mueller Industries during the second quarter worth $26,000. Federated Hermes Inc. purchased a new stake in Mueller Industries during the 2nd quarter worth about $28,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries in the 2nd quarter worth about $30,000. GAMMA Investing LLC grew its holdings in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Mueller Industries during the third quarter valued at about $64,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Mueller Industries Trading Up 0.4 %

MLI stock opened at $78.96 on Friday. The firm has a 50 day moving average of $81.17 and a 200-day moving average of $69.65. The firm has a market capitalization of $8.98 billion, a P/E ratio of 15.33 and a beta of 0.99. Mueller Industries, Inc. has a 12 month low of $41.94 and a 12 month high of $96.81.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

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 given 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 1.01%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Mueller Industries Company 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.