Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 21.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,980 shares of the industrial products company’s stock after selling 820 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Mueller Industries were worth $221,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. United Capital Management of KS Inc. lifted its stake in Mueller Industries by 3.0% in the first quarter. United Capital Management of KS Inc. now owns 101,327 shares of the industrial products company’s stock valued at $5,465,000 after buying an additional 2,934 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in Mueller Industries in the first quarter valued at approximately $210,000. Van ECK Associates Corp lifted its stake in Mueller Industries by 36.5% in the first quarter. Van ECK Associates Corp now owns 47,059 shares of the industrial products company’s stock valued at $2,538,000 after buying an additional 12,586 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Mueller Industries in the first quarter valued at approximately $461,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Mueller Industries in the first quarter valued at approximately $689,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Trading Up 1.5 %

Shares of NYSE MLI opened at $83.08 on Tuesday. Mueller Industries, Inc. has a twelve month low of $36.88 and a twelve month high of $84.11. The stock has a 50 day moving average of $72.06 and a two-hundred day moving average of $63.96. The stock has a market cap of $9.44 billion, a P/E ratio of 16.65 and a beta of 1.03.

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

Mueller Industries Dividend Announcement

The business also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,000 shares of company stock worth $7,081,770 over the last 90 days. 2.80% of the stock is currently owned by insiders.

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.