Ausbil Investment Management Ltd Grows Position in Mueller Industries, Inc. (NYSE:MLI)

Ausbil Investment Management Ltd grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,257 shares of the industrial products company’s stock after acquiring an additional 1,989 shares during the period. Mueller Industries comprises approximately 1.2% of Ausbil Investment Management Ltd’s holdings, making the stock its 27th biggest holding. Ausbil Investment Management Ltd’s holdings in Mueller Industries were worth $3,946,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MLI. International Assets Investment Management LLC boosted its position in Mueller Industries by 3,760.7% during the 3rd quarter. International Assets Investment Management LLC now owns 17,875 shares of the industrial products company’s stock valued at $1,325,000 after purchasing an additional 17,412 shares during the period. Narwhal Capital Management raised its position in shares of Mueller Industries by 114.2% during the third quarter. Narwhal Capital Management now owns 29,836 shares of the industrial products company’s stock worth $2,211,000 after purchasing an additional 15,904 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Mueller Industries by 12.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,394 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 592 shares during the period. Retirement Guys Formula LLC purchased a new position in shares of Mueller Industries during the third quarter valued at $200,000. Finally, Raymond James & Associates grew its position in Mueller Industries by 6.9% during the third quarter. Raymond James & Associates now owns 65,848 shares of the industrial products company’s stock valued at $4,879,000 after purchasing an additional 4,226 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of Mueller Industries stock traded up $0.25 during trading on Thursday, hitting $81.25. 214,996 shares of the stock traded hands, compared to its average volume of 711,289. Mueller Industries, Inc. has a twelve month low of $36.39 and a twelve month high of $84.11. The company has a fifty day moving average price of $71.24 and a two-hundred day moving average price of $63.27. The stock has a market cap of $9.23 billion, a P/E ratio of 16.23 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.16. The company had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s dividend payout ratio is presently 16.03%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the sale, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was 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 $6,449,257.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the business’s 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 transaction, the chief executive officer now owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,000 shares of company stock valued at $7,081,770. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Company 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.