Edgestream Partners L.P. Purchases 4,718 Shares of Mueller Industries, Inc. (NYSE:MLI)

Edgestream Partners L.P. increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,198 shares of the industrial products company’s stock after acquiring an additional 4,718 shares during the period. Edgestream Partners L.P. owned about 0.06% of Mueller Industries worth $4,111,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in Mueller Industries in the 2nd quarter valued at $26,000. Federated Hermes Inc. purchased a new stake in Mueller Industries during the second quarter worth about $28,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries in the second quarter worth about $30,000. LifeSteps Financial Inc. purchased a new position in Mueller Industries in the first quarter valued at about $43,000. Finally, CWM LLC grew its position in shares of Mueller Industries by 36.9% during the 1st 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 hedge funds and other institutional investors.

Mueller Industries Trading Up 1.0 %

NYSE:MLI opened at $71.23 on Wednesday. Mueller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $72.83. The firm’s 50 day moving average is $67.15 and its 200 day moving average is $59.45. The stock has a market capitalization of $8.09 billion, a PE ratio of 14.27 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last issued its earnings results 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. The firm had revenue of $997.75 million for the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. Mueller Industries’s payout ratio is 16.03%.

Insider Activity

In related news, Director John B. Hansen sold 8,000 shares of the firm’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 directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated 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. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock valued at $7,081,770 over the last quarter. Company insiders own 2.80% of the company’s stock.

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.