Cynosure Group LLC Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Cynosure Group LLC acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,043 shares of the industrial products company’s stock, valued at approximately $374,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. New York State Common Retirement Fund lifted its position in shares of Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after acquiring an additional 68,633 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Mueller Industries by 1,322.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 7,843 shares during the period. SG Americas Securities LLC raised its position in shares of Mueller Industries by 314.6% during the second quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock valued at $2,166,000 after buying an additional 28,865 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Mueller Industries by 24.0% in the first quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after buying an additional 21,404 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Mueller Industries by 36.5% during the third quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after acquiring an additional 10,714 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % 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 Stock Performance

Shares of NYSE MLI opened at $80.83 on Friday. The company has a market cap of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01. Mueller Industries, Inc. has a 52-week low of $40.52 and a 52-week high of $96.81. The firm’s fifty day moving average is $80.22 and its two-hundred day moving average is $68.83.

Mueller Industries (NYSE:MLI) last issued 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 return on equity of 23.25% and a net margin of 16.39%. The firm had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently announced 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 0.99%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

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.