Mueller Industries, Inc. (NYSE:MLI) Stake Cut by Isthmus Partners LLC

Isthmus Partners LLC cut its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 20.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,401 shares of the industrial products company’s stock after selling 14,849 shares during the quarter. Isthmus Partners LLC’s holdings in Mueller Industries were worth $4,179,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LSV Asset Management lifted its stake 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. Fiera Capital Corp bought a new stake in Mueller Industries in the third quarter valued at $35,552,000. Charles Schwab Investment Management Inc. lifted its stake in Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after buying an additional 315,490 shares during the last quarter. F M Investments LLC bought a new stake in Mueller Industries in the second quarter valued at $14,441,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in 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 buying an additional 90,841 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 transaction, the director now directly owns 94,914 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated 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 transaction, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.6 %

Shares of NYSE MLI opened at $80.83 on Friday. Mueller Industries, Inc. has a fifty-two week low of $40.52 and a fifty-two week high of $96.81. The firm’s 50-day simple moving average is $80.22 and its 200 day simple moving average is $68.83. The stock has a market cap of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01.

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

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.20 per share. 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 is currently 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.