Addison Capital Co Acquires 833 Shares of Mueller Industries, Inc. (NYSE:MLI)

Addison Capital Co increased its position in Mueller Industries, Inc. (NYSE:MLI) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,091 shares of the industrial products company’s stock after buying an additional 833 shares during the period. Mueller Industries accounts for about 1.5% of Addison Capital Co’s investment portfolio, making the stock its 19th biggest position. Addison Capital Co’s holdings in Mueller Industries were worth $3,786,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 buying an additional 59,060 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Mueller Industries by 100.0% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 36,808 shares of the industrial products company’s stock valued at $1,735,000 after purchasing an additional 18,404 shares during the period. Global Assets Advisory LLC purchased a new stake in Mueller Industries during the first quarter valued at approximately $800,000. Westfield Capital Management Co. LP raised its position in Mueller Industries by 6.1% during the first quarter. Westfield Capital Management Co. LP now owns 168,849 shares of the industrial products company’s stock valued at $9,106,000 after purchasing an additional 9,719 shares during the period. Finally, SG Americas Securities LLC raised its position in 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 purchasing an additional 28,865 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of MLI stock opened at $74.00 on Friday. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $74.99. The stock’s 50 day simple moving average is $70.50 and its two-hundred day simple moving average is $62.53. The company has a market cap of $8.41 billion, a PE ratio of 14.83 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The business had revenue of $997.75 million for the quarter.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.20 per share. The ex-dividend date was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.08%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insider Transactions at Mueller Industries

In other news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is currently owned by company insiders.

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.