1,966 Shares in Mueller Industries, Inc. (NYSE:MLI) Purchased by Truvestments Capital LLC

Truvestments Capital LLC acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,966 shares of the industrial products company’s stock, valued at approximately $146,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries during the 2nd quarter worth about $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries during the second quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Mueller Industries in the second quarter valued at approximately $30,000. GAMMA Investing LLC boosted its stake 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 worth $41,000 after acquiring an additional 146 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Mueller Industries during the third quarter worth approximately $64,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Down 1.0 %

Shares of MLI opened at $81.29 on Wednesday. Mueller Industries, Inc. has a 52-week low of $40.52 and a 52-week high of $96.81. The stock has a market cap of $9.25 billion, a PE ratio of 15.78 and a beta of 1.01. The firm’s fifty day moving average is $79.82 and its two-hundred day moving average is $68.59.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The firm’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 0.98%. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Buying and Selling

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’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 directly owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of the business’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 completion of the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

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.