Edgestream Partners L.P. Grows Position in Mueller Industries, Inc. (NYSE:MLI)

Edgestream Partners L.P. increased its stake in Mueller Industries, Inc. (NYSE:MLI) by 7.0% during the 2nd quarter, Holdings Channel reports. The firm owned 72,198 shares of the industrial products company’s stock after purchasing an additional 4,718 shares during the quarter. Edgestream Partners L.P.’s holdings in Mueller Industries were worth $4,111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avantax Advisory Services Inc. lifted its holdings in shares of Mueller Industries by 126.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 7,190 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 4,014 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Mueller Industries by 48.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,260 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 3,021 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Mueller Industries by 100.0% in the 4th quarter. Panagora Asset Management Inc. now owns 7,600 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 3,800 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Mueller Industries by 100.0% during the 4th quarter. Brown Advisory Inc. now owns 20,240 shares of the industrial products company’s stock valued at $954,000 after purchasing an additional 10,120 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Mueller Industries during the 4th quarter valued at about $59,606,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Price Performance

Shares of MLI opened at $71.23 on Wednesday. The firm has a market cap of $8.09 billion, a P/E ratio of 14.27 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. The stock has a 50 day simple moving average of $67.15 and a two-hundred day simple moving average of $59.45.

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

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Mueller Industries Company 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.