Archer Investment Corp Purchases 500 Shares of Mueller Industries, Inc. (NYSE:MLI)

Archer Investment Corp increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 29.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,200 shares of the industrial products company’s stock after purchasing an additional 500 shares during the period. Archer Investment Corp’s holdings in Mueller Industries were worth $163,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MLI. LSV Asset Management boosted its holdings 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 purchasing an additional 641,114 shares during the period. Fiera Capital Corp purchased a new position in Mueller Industries during the third quarter worth $35,552,000. F M Investments LLC bought a new position in Mueller Industries during the second quarter valued at $14,441,000. Massachusetts Financial Services Co. MA raised its stake in shares of Mueller Industries by 1,124.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock valued at $5,633,000 after acquiring an additional 90,841 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Mueller Industries by 163.6% in the 2nd quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock worth $6,790,000 after acquiring an additional 73,567 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Down 1.6 %

Shares of NYSE:MLI opened at $88.68 on Friday. Mueller Industries, Inc. has a 12 month low of $40.43 and a 12 month high of $96.81. The firm’s 50-day moving average is $77.35 and its 200 day moving average is $67.12. The company has a market capitalization of $10.09 billion, a price-to-earnings ratio of 17.22 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. The firm 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%. Mueller Industries’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 0.90%. The ex-dividend date is Friday, December 6th. Mueller Industries’s payout ratio is presently 15.53%.

Insider Activity at Mueller Industries

In other 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 transaction of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The trade was a 3.95 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

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.