Premier Fund Managers Ltd Has $5.10 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Premier Fund Managers Ltd cut its position in Mueller Industries, Inc. (NYSE:MLI) by 28.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,800 shares of the industrial products company’s stock after selling 28,200 shares during the quarter. Premier Fund Managers Ltd owned 0.06% of Mueller Industries worth $5,103,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after buying an additional 146 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in Mueller Industries by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock worth $409,000 after buying an additional 151 shares during the period. Kapitalo Investimentos Ltda grew its position in shares of Mueller Industries by 3.5% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after buying an additional 156 shares during the last quarter. Summit Global Investments increased its stake in shares of Mueller Industries by 1.6% in the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after buying an additional 204 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Mueller Industries by 1.8% during the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock worth $757,000 after acquiring an additional 233 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Price Performance

Mueller Industries stock opened at $90.70 on Wednesday. The firm has a market cap of $10.32 billion, a P/E ratio of 17.61 and a beta of 1.01. The stock’s 50 day moving average is $78.29 and its 200 day moving average is $67.76. Mueller Industries, Inc. has a one year low of $40.43 and a one year high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

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

Insider Activity

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction 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 directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Thursday, August 22nd. The shares were 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 directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by company 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.