Sawgrass Asset Management LLC Sells 207 Shares of Mueller Industries, Inc. (NYSE:MLI)

Sawgrass Asset Management LLC decreased its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,351 shares of the industrial products company’s stock after selling 207 shares during the period. Sawgrass Asset Management LLC’s holdings in Mueller Industries were worth $471,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Mueller Industries in the second quarter valued at $26,000. Federated Hermes Inc. bought a new position in Mueller Industries in the second quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries in the second quarter valued at $30,000. GAMMA Investing LLC grew its position in Mueller Industries by 36.0% in the third 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, Harbor Capital Advisors Inc. bought a new position in Mueller Industries in the third quarter valued at $64,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 1.6 %

Mueller Industries stock opened at $88.68 on Friday. The company has a market cap of $10.09 billion, a P/E ratio of 17.22 and a beta of 1.01. Mueller Industries, Inc. has a 1-year low of $40.43 and a 1-year high of $96.81. The company has a fifty day simple moving average of $77.35 and a 200 day simple moving average of $67.20.

Mueller Industries (NYSE:MLI) last released its earnings results 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. The business had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Buying and Selling at Mueller Industries

In other news, 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 transaction of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.