Rockefeller Capital Management L.P. Has $64.22 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Rockefeller Capital Management L.P. decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 39.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 866,903 shares of the industrial products company’s stock after selling 553,111 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Mueller Industries were worth $64,217,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. New York State Common Retirement Fund increased its stake in 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 buying an additional 68,633 shares during the last quarter. Farther Finance Advisors LLC lifted its stake 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 valued at $625,000 after purchasing an additional 7,843 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of 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 valued at $2,166,000 after buying an additional 28,865 shares during the period. Janus Henderson Group PLC increased its holdings in Mueller Industries by 24.0% in the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after acquiring an additional 21,404 shares during the last quarter. Finally, Creative Planning raised its stake in Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock valued at $2,970,000 after acquiring an additional 10,714 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.0 %

MLI opened at $80.84 on Friday. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 15.70 and a beta of 1.01. The firm has a 50-day moving average price of $80.37 and a 200-day moving average price of $68.92. Mueller Industries, Inc. has a twelve month low of $40.69 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million during 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% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. Mueller Industries’s dividend payout ratio is presently 15.53%.

Insider Activity at Mueller Industries

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 sale, the director now owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 1.04 % 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, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % 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 insiders.

Mueller Industries 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.