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

Royce & Associates LP reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.6% in the 3rd quarter, Holdings Channel reports. The firm owned 674,232 shares of the industrial products company’s stock after selling 10,869 shares during the period. Royce & Associates LP’s holdings in Mueller Industries were worth $49,961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Mueller Industries by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after buying an additional 59,060 shares in the last quarter. New York State Common Retirement Fund raised its stake in Mueller Industries by 20.4% during the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after acquiring an additional 68,633 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 7,843 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Mueller Industries by 6.1% in the 1st quarter. Westfield Capital Management Co. LP now owns 168,849 shares of the industrial products company’s stock valued at $9,106,000 after purchasing an additional 9,719 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Mueller Industries by 314.6% during the 2nd quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock valued at $2,166,000 after purchasing an additional 28,865 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $90.25 on Friday. Mueller Industries, Inc. has a one year low of $40.43 and a one year high of $96.81. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 17.52 and a beta of 1.01. The firm has a 50 day simple moving average of $76.89 and a 200 day simple moving average of $66.91.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The company 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 revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

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

Insider Activity

In related news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The trade was a 3.95 % 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.

Mueller Industries 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.