Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,165 shares of the industrial products company’s stock after selling 332 shares during the quarter. Ritholtz Wealth Management owned 0.06% of Mueller Industries worth $5,125,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MLI. International Assets Investment Management LLC acquired a new position in Mueller Industries during the second quarter valued at approximately $26,000. Federated Hermes Inc. purchased a new stake in Mueller Industries during the 2nd quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries during the 2nd quarter worth $30,000. GAMMA Investing LLC increased its holdings in Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares in the last quarter. Finally, CWM LLC raised its position in Mueller Industries by 36.9% in the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were 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 $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,000 shares of company stock valued at $7,081,770. 2.80% of the stock is currently owned by insiders.

Mueller Industries Stock Up 2.3 %

Shares of NYSE MLI traded up $1.64 on Friday, hitting $72.84. The company had a trading volume of 446,047 shares, compared to its average volume of 706,218. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $74.47. The firm has a market capitalization of $8.27 billion, a P/E ratio of 14.60 and a beta of 1.03. The business has a 50 day moving average of $69.95 and a two-hundred day moving average of $61.98.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The company had revenue of $997.75 million during the quarter.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. Mueller Industries’s dividend payout ratio is presently 16.03%.

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.