Millburn Ridgefield Corp Buys 1,070 Shares of Mueller Industries, Inc. (NYSE:MLI)

Millburn Ridgefield Corp boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 447.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,309 shares of the industrial products company’s stock after acquiring an additional 1,070 shares during the quarter. Millburn Ridgefield Corp’s holdings in Mueller Industries were worth $97,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Mueller Industries in the second quarter worth approximately $26,000. Federated Hermes Inc. purchased a new position in shares of Mueller Industries in the second quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries during the second quarter valued at about $30,000. GAMMA Investing LLC boosted its holdings in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Mueller Industries by 61.7% in the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Price Performance

MLI opened at $78.87 on Wednesday. Mueller Industries, Inc. has a one year low of $41.94 and a one year high of $96.81. The business has a 50 day simple moving average of $80.86 and a two-hundred day simple moving average of $69.52. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 15.31 and a beta of 0.99.

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, topping analysts’ consensus estimates of $1.32 by $0.16. The company had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 1.01%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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.