Westover Capital Advisors LLC Decreases Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Westover Capital Advisors LLC decreased its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 10.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 21,598 shares of the industrial products company’s stock after selling 2,468 shares during the period. Westover Capital Advisors LLC’s holdings in Mueller Industries were worth $1,230,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Mueller Industries by 0.5% during the first 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 during the period. First Trust Advisors LP raised its holdings in shares of Mueller Industries by 94.5% in the 4th quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock valued at $264,920,000 after purchasing an additional 2,729,382 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Mueller Industries by 93.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after purchasing an additional 1,855,637 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Mueller Industries by 94.2% during the fourth quarter. Gabelli Funds LLC now owns 2,461,800 shares of the industrial products company’s stock worth $116,074,000 after purchasing an additional 1,193,900 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Mueller Industries by 44.1% in the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after buying an additional 641,114 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, 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 value of $537,920.00. Following the transaction, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mueller Industries news, 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 value of $537,920.00. Following the sale, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at $85,631,784.03. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock worth $7,081,770 in the last quarter. Company insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $70.24 on Friday. The business has a 50-day moving average of $66.87 and a two-hundred day moving average of $59.20. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 14.08 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $72.83.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The firm had revenue of $997.75 million for the quarter.

Mueller Industries Dividend Announcement

The business also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Friday, September 6th. Mueller Industries’s dividend payout ratio is currently 16.03%.

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.