Orion Portfolio Solutions LLC Acquires 13,933 Shares of Mueller Industries, Inc. (NYSE:MLI)

Orion Portfolio Solutions LLC raised its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 42.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,747 shares of the industrial products company’s stock after purchasing an additional 13,933 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Mueller Industries were worth $3,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after purchasing an additional 139,406 shares in the last quarter. LSV Asset Management grew its stake in shares of Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after acquiring an additional 641,114 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after acquiring an additional 315,490 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mueller Industries by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock worth $66,988,000 after acquiring an additional 7,756 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Mueller Industries by 2.6% in the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after acquiring an additional 27,399 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Mueller Industries Price Performance

NYSE MLI opened at $78.03 on Tuesday. Mueller Industries, Inc. has a 1 year low of $41.94 and a 1 year high of $96.81. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 15.15 and a beta of 0.99. The company has a fifty day moving average price of $81.38 and a 200-day moving average price of $70.09.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. The company’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

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.