Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Vest Financial LLC

Vest Financial LLC boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 18.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 414,417 shares of the industrial products company’s stock after purchasing an additional 63,828 shares during the quarter. Vest Financial LLC owned about 0.36% of Mueller Industries worth $23,597,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Mueller Industries during the second quarter worth about $30,000. LifeSteps Financial Inc. acquired a new stake in shares of Mueller Industries during the first quarter worth about $43,000. CWM LLC lifted its holdings in shares of Mueller Industries by 36.9% in the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 223 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position 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 purchasing an additional 369 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the transaction, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction on 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 $85,631,784.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,000 shares of company stock worth $7,081,770. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Up 0.0 %

NYSE:MLI opened at $67.14 on Thursday. The company has a market capitalization of $7.63 billion, a PE ratio of 13.45 and a beta of 1.03. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $72.83. The stock’s 50 day moving average price is $66.37 and its 200 day moving average price is $59.00.

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

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. Mueller Industries’s payout ratio is 16.03%.

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.