Captrust Financial Advisors bought a new position in Mueller Industries, Inc. (NYSE:MLI – Free Report) in the 3rd quarter, Holdings Channel.com reports. The firm bought 2,903 shares of the industrial products company’s stock, valued at approximately $215,000.
Other hedge funds also recently made changes to their positions in the company. 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 purchasing an additional 146 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of Mueller Industries by 2.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock valued at $409,000 after purchasing an additional 151 shares in the last quarter. Kapitalo Investimentos Ltda increased its holdings 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 purchasing an additional 156 shares in the last quarter. GM Advisory Group LLC increased its holdings in shares of Mueller Industries by 5.3% in the 3rd quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 192 shares in the last quarter. Finally, Summit Global Investments increased its holdings in shares of Mueller Industries by 1.6% in the 2nd quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.
Mueller Industries Trading Down 0.6 %
NYSE:MLI opened at $82.48 on Monday. The firm has a 50-day moving average price of $82.18 and a two-hundred day moving average price of $70.78. Mueller Industries, Inc. has a twelve month low of $44.03 and a twelve month high of $96.81. The company has a market capitalization of $9.38 billion, a P/E ratio of 16.02 and a beta of 0.99.
Mueller Industries (NYSE:MLI – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries’s revenue for the quarter was up 21.7% compared to the same quarter last year.
Mueller Industries Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.97%. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.
Insider Buying and Selling at Mueller Industries
In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries 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 completion of the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now 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 insiders.
Analyst Upgrades and Downgrades
Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a report on Wednesday, December 11th.
Check Out Our Latest Stock Analysis on Mueller Industries
Mueller Industries Profile
(Free Report)
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.
See Also
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