Inspire Advisors LLC Has $1.06 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Inspire Advisors LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 1.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,554 shares of the industrial products company’s stock after purchasing an additional 328 shares during the period. Inspire Advisors LLC’s holdings in Mueller Industries were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Mueller Industries in the second quarter worth about $26,000. Federated Hermes Inc. bought a new position in shares of Mueller Industries during the 2nd quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Mueller Industries in the 2nd quarter valued at $30,000. LifeSteps Financial Inc. bought a new stake in Mueller Industries in the first quarter valued at $43,000. Finally, CWM LLC lifted its holdings in shares of Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $70.24 on Friday. The company has a market capitalization of $7.96 billion, a PE ratio of 14.08 and a beta of 1.03. The company’s fifty day moving average is $66.87 and its 200-day moving average is $59.20. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $72.83.

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

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. Mueller Industries’s dividend payout ratio is 16.03%.

Insider Buying and Selling at Mueller Industries

In other news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at $85,631,784.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 in the company, valued at approximately $6,449,257.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,000 shares of company stock worth $7,081,770. 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.