XTX Topco Ltd Buys New Position in Mueller Industries, Inc. (NYSE:MLI)

XTX Topco Ltd bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 11,801 shares of the industrial products company’s stock, valued at approximately $874,000.

Several other hedge funds have also modified their holdings of MLI. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries in the 2nd quarter valued at approximately $26,000. Federated Hermes Inc. bought a new stake in shares of Mueller Industries in the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 146 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Mueller Industries by 61.7% in the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 369 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at approximately $64,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Trading Up 2.7 %

Shares of NYSE MLI opened at $80.16 on Wednesday. Mueller Industries, Inc. has a twelve month low of $41.94 and a twelve month high of $96.81. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 15.57 and a beta of 0.99. The business has a 50 day simple moving average of $81.53 and a 200-day simple moving average of $70.24.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data 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. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.00%. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

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.