United Capital Management of KS Inc. Has $5.88 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

United Capital Management of KS Inc. grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 103,220 shares of the industrial products company’s stock after buying an additional 1,893 shares during the period. United Capital Management of KS Inc. owned approximately 0.09% of Mueller Industries worth $5,877,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Miller Howard Investments Inc. NY boosted its stake 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. Summit Global Investments boosted its position in Mueller Industries by 1.6% in the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after buying an additional 204 shares in the last quarter. CWM LLC boosted its position in Mueller Industries by 36.9% in the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after buying an additional 223 shares in the last quarter. Burney Co. increased its holdings in shares of Mueller Industries by 0.8% during the second quarter. Burney Co. now owns 29,652 shares of the industrial products company’s stock worth $1,688,000 after buying an additional 236 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of Mueller Industries by 0.7% in the first quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company’s stock valued at $1,771,000 after acquiring an additional 240 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,000 shares of company stock worth $7,081,770. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI opened at $72.71 on Friday. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 14.57 and a beta of 1.06. The stock has a fifty day moving average price of $64.56 and a two-hundred day moving average price of $57.94. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $72.82.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.12. The business had revenue of $997.75 million for the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, September 6th. Mueller Industries’s dividend payout ratio is 16.03%.

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.