Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Decreased by Martingale Asset Management L P

Martingale Asset Management L P reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,073 shares of the industrial products company’s stock after selling 6,908 shares during the period. Martingale Asset Management L P owned about 0.07% of Mueller Industries worth $6,304,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund increased its position in shares of Mueller Industries by 20.4% in 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 boosted its holdings in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 7,843 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Mueller Industries by 314.6% during the second quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock worth $2,166,000 after purchasing an additional 28,865 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Mueller Industries by 24.0% during the first quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after purchasing an additional 21,404 shares during the period. Finally, Creative Planning boosted its holdings in shares of Mueller Industries by 36.5% during the third quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after purchasing an additional 10,714 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

MLI stock opened at $80.84 on Friday. The stock has a market cap of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01. The firm has a 50 day simple moving average of $80.37 and a 200 day simple moving average of $68.92. Mueller Industries, Inc. has a 52 week low of $40.69 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate 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 net margin of 16.39% and a return on equity of 23.25%. Mueller Industries’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred 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 directly owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

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.