Advisors Asset Management Inc. Acquires 1,900 Shares of Mueller Industries, Inc. (NYSE:MLI)

Advisors Asset Management Inc. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,174 shares of the industrial products company’s stock after purchasing an additional 1,900 shares during the quarter. Advisors Asset Management Inc.’s holdings in Mueller Industries were worth $2,680,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. New York State Common Retirement Fund increased its stake in shares of Mueller Industries by 20.4% in the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after acquiring an additional 68,633 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 7,843 shares during the period. SG Americas Securities LLC grew its holdings in Mueller Industries by 314.6% in the second quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock worth $2,166,000 after purchasing an additional 28,865 shares during the period. Janus Henderson Group PLC increased its stake in Mueller Industries by 24.0% in the first quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock valued at $5,971,000 after purchasing an additional 21,404 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Mueller Industries by 36.5% during the third quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock valued at $2,970,000 after purchasing an additional 10,714 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Price Performance

MLI stock opened at $87.90 on Friday. Mueller Industries, Inc. has a 1 year low of $40.43 and a 1 year high of $96.81. The stock has a market capitalization of $10.00 billion, a PE ratio of 17.07 and a beta of 1.01. The company’s 50-day moving average is $79.59 and its 200-day moving average is $68.36.

Mueller Industries (NYSE:MLI) last announced 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 business had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm 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. This represents a $0.80 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, December 6th. Mueller Industries’s payout ratio is currently 15.53%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

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.