Vestcor Inc Acquires 2,666 Shares of Mueller Industries, Inc. (NYSE:MLI)

Vestcor Inc grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,769 shares of the industrial products company’s stock after purchasing an additional 2,666 shares during the period. Vestcor Inc’s holdings in Mueller Industries were worth $4,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Mueller Industries during the 2nd quarter worth $26,000. Federated Hermes Inc. bought a new stake in Mueller Industries during the 2nd quarter worth $28,000. GAMMA Investing LLC grew its position in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. Larson Financial Group LLC grew its position in Mueller Industries by 61.7% during the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 369 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in Mueller Industries during the 3rd quarter worth $64,000. Institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Up 2.7 %

Shares of MLI stock opened at $80.16 on Wednesday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 15.57 and a beta of 0.99. Mueller Industries, Inc. has a twelve month low of $41.94 and a twelve month high of $96.81. The stock’s fifty day simple moving average is $81.53 and its 200 day simple moving average is $70.24.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.32 by $0.16. The firm had revenue of $997.80 million for the quarter, compared to the consensus estimate 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 business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s payout ratio is presently 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.