HWG Holdings LP Has $4.03 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

HWG Holdings LP grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 31.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,325 shares of the industrial products company’s stock after purchasing an additional 12,971 shares during the period. Mueller Industries makes up about 1.4% of HWG Holdings LP’s portfolio, making the stock its 23rd biggest position. HWG Holdings LP’s holdings in Mueller Industries were worth $4,025,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries during the second quarter worth $26,000. Federated Hermes Inc. bought a new position in Mueller Industries in the second quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries in the second quarter valued at about $30,000. GAMMA Investing LLC boosted its stake in shares of Mueller Industries by 36.0% during 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, Larson Financial Group LLC grew its holdings in shares of Mueller Industries by 61.7% during the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $81.79 on Friday. The company has a 50 day simple moving average of $71.51 and a 200 day simple moving average of $63.39. Mueller Industries, Inc. has a 1 year low of $36.39 and a 1 year high of $84.11. The firm has a market cap of $9.27 billion, a PE ratio of 15.88 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. The business’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.20 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Insider Activity

In related news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction that occurred 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 of the company’s stock, valued at $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the sale, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,000 shares of company stock valued at $7,081,770. 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.