Mueller Industries, Inc. (NYSE:MLI) Position Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 17.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,055,985 shares of the industrial products company’s stock after selling 230,755 shares during the quarter. Victory Capital Management Inc.’s holdings in Mueller Industries were worth $78,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLI. SG Americas Securities LLC raised its holdings in Mueller Industries by 262.5% during the first quarter. SG Americas Securities LLC now owns 9,176 shares of the industrial products company’s stock worth $495,000 after purchasing an additional 6,645 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Mueller Industries by 21.8% during the first quarter. Avantax Advisory Services Inc. now owns 8,758 shares of the industrial products company’s stock worth $472,000 after purchasing an additional 1,568 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Mueller Industries by 7.4% during the first quarter. ProShare Advisors LLC now owns 22,639 shares of the industrial products company’s stock valued at $1,221,000 after purchasing an additional 1,554 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Mueller Industries in the 1st quarter valued at $760,000. Finally, Orion Portfolio Solutions LLC boosted its position in shares of Mueller Industries by 0.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company’s stock valued at $1,771,000 after purchasing an additional 240 shares during the period. Institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Mueller Industries Trading Down 2.6 %

NYSE MLI opened at $91.00 on Thursday. Mueller Industries, Inc. has a 1 year low of $39.33 and a 1 year high of $96.81. The company has a market cap of $10.35 billion, a PE ratio of 17.67 and a beta of 1.01. The stock’s 50-day moving average price is $76.42 and its two-hundred day moving average price is $66.75.

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 analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 0.88%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

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.