Fifth Third Wealth Advisors LLC Invests $253,000 in Mueller Industries, Inc. (NYSE:MLI)

Fifth Third Wealth Advisors LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,439 shares of the industrial products company’s stock, valued at approximately $253,000.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries during the second quarter worth about $30,000. Larson Financial Group LLC grew its position in Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 299 shares during the last quarter. Montag A & Associates Inc. acquired a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $34,000. LifeSteps Financial Inc. bought a new stake in shares of Mueller Industries during the first quarter valued at approximately $43,000. Finally, CWM LLC boosted its position in shares of Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after buying an additional 223 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the transaction, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction that occurred on Friday, August 9th. The stock was 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 approximately $6,449,257.36. The disclosure for this sale can be found here. Insiders sold 55,000 shares of company stock worth $3,701,230 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.2 %

Mueller Industries stock traded down $0.15 during mid-day trading on Thursday, hitting $69.98. 43,162 shares of the company’s stock traded hands, compared to its average volume of 685,239. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $72.68. The company has a market cap of $7.95 billion, a PE ratio of 14.05 and a beta of 1.06. The firm has a 50 day moving average price of $62.15 and a 200 day moving average price of $56.79.

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, beating analysts’ consensus estimates of $1.29 by $0.12. The firm had revenue of $997.75 million during the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 1.14%. Mueller Industries’s payout ratio is 16.03%.

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.