Royce & Associates LP Sells 10,869 Shares of Mueller Industries, Inc. (NYSE:MLI)

Royce & Associates LP reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 674,232 shares of the industrial products company’s stock after selling 10,869 shares during the period. Royce & Associates LP owned about 0.59% of Mueller Industries worth $49,961,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries during the 2nd quarter worth approximately $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries in the second quarter valued at $28,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries in the second quarter valued at about $30,000. GAMMA Investing LLC raised its position in shares of Mueller Industries by 36.0% in the third 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 during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Mueller Industries by 61.7% during the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after buying an additional 369 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. This trade represents a 3.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of the company’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 approximately $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI opened at $90.25 on Friday. The firm has a market cap of $10.27 billion, a P/E ratio of 17.52 and a beta of 1.01. Mueller Industries, Inc. has a 52 week low of $40.43 and a 52 week high of $96.81. The firm’s 50-day simple moving average is $76.89 and its 200 day simple moving average is $66.91.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. The company had revenue of $997.80 million for the quarter, compared to the consensus estimate 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s payout ratio is 15.53%.

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.