Premier Fund Managers Ltd Has $5.10 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Premier Fund Managers Ltd reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 28.5% during the third quarter, Holdings Channel.com reports. The firm owned 70,800 shares of the industrial products company’s stock after selling 28,200 shares during the quarter. Premier Fund Managers Ltd’s holdings in Mueller Industries were worth $5,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries during the second quarter valued at about $26,000. Federated Hermes Inc. bought a new position in Mueller Industries in the 2nd quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in Mueller Industries during the 2nd quarter valued at about $30,000. GAMMA Investing LLC increased its holdings in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Mueller Industries by 61.7% in the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.4 %

Shares of NYSE:MLI opened at $90.70 on Wednesday. The business’s 50 day moving average is $78.29 and its 200 day moving average is $67.76. Mueller Industries, Inc. has a 12-month low of $40.43 and a 12-month high of $96.81. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 17.61 and a beta of 1.01.

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

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.88%. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Insiders Place Their Bets

In other Mueller Industries 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 value 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 trade was a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

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.