Intech Investment Management LLC Purchases 15,407 Shares of Mueller Industries, Inc. (NYSE:MLI)

Intech Investment Management LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 32.2% during the third quarter, HoldingsChannel reports. The fund owned 63,248 shares of the industrial products company’s stock after buying an additional 15,407 shares during the quarter. Intech Investment Management LLC’s holdings in Mueller Industries were worth $4,687,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Mueller Industries by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after purchasing an additional 59,060 shares in the last quarter. New York State Common Retirement Fund grew its stake in Mueller Industries by 20.4% in the 3rd 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 buying an additional 68,633 shares in the last quarter. Farther Finance Advisors LLC grew 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 valued at $625,000 after buying an additional 7,843 shares in the last quarter. SG Americas Securities LLC raised its holdings in Mueller Industries by 314.6% during the 2nd quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock valued at $2,166,000 after acquiring an additional 28,865 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Mueller Industries by 24.0% during the first quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after acquiring an additional 21,404 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $87.82 on Friday. The stock has a fifty day moving average of $79.59 and a 200-day moving average of $68.29. The stock has a market cap of $9.99 billion, a PE ratio of 17.05 and a beta of 1.01. Mueller Industries, Inc. has a fifty-two week low of $40.43 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last posted its earnings results 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 return on equity of 23.25% and a net margin of 16.39%. The business had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. The company’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

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.