Harbour Investments Inc. Grows Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Harbour Investments Inc. lifted its position in Mueller Industries, Inc. (NYSE:MLI) by 6.0% during the third quarter, HoldingsChannel.com reports. The fund owned 59,645 shares of the industrial products company’s stock after acquiring an additional 3,391 shares during the period. Harbour Investments Inc.’s holdings in Mueller Industries were worth $4,420,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MLI. International Assets Investment Management LLC purchased a new position in Mueller Industries in the 2nd quarter worth approximately $26,000. Federated Hermes Inc. purchased a new position in Mueller Industries during the second quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new position in Mueller Industries during the second quarter worth approximately $30,000. GAMMA Investing LLC boosted its stake in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after buying an additional 146 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in Mueller Industries in the 3rd quarter valued at $64,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Down 2.0 %

NYSE MLI opened at $93.48 on Wednesday. The business’s fifty day simple moving average is $75.96 and its 200-day simple moving average is $66.58. The firm has a market cap of $10.63 billion, a PE ratio of 18.15 and a beta of 1.01. Mueller Industries, Inc. has a 52 week low of $37.93 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping 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 company had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.86%. Mueller Industries’s payout ratio is 15.53%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. 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 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

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.