Archer Investment Corp Purchases 500 Shares of Mueller Industries, Inc. (NYSE:MLI)

Archer Investment Corp boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 29.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,200 shares of the industrial products company’s stock after purchasing an additional 500 shares during the quarter. Archer Investment Corp’s holdings in Mueller Industries were worth $163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MLI. SG Americas Securities LLC grew its stake in shares of Mueller Industries by 262.5% in the first quarter. SG Americas Securities LLC now owns 9,176 shares of the industrial products company’s stock worth $495,000 after acquiring an additional 6,645 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in Mueller Industries by 21.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 8,758 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 1,568 shares in the last quarter. ProShare Advisors LLC raised its holdings in Mueller Industries by 7.4% in the first quarter. ProShare Advisors LLC now owns 22,639 shares of the industrial products company’s stock worth $1,221,000 after buying an additional 1,554 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Mueller Industries by 0.7% in the first quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company’s stock worth $1,771,000 after buying an additional 240 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Mueller Industries by 6.1% in the first quarter. Westfield Capital Management Co. LP now owns 168,849 shares of the industrial products company’s stock worth $9,106,000 after buying an additional 9,719 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 1.6 %

Shares of MLI opened at $88.68 on Friday. Mueller Industries, Inc. has a twelve month low of $40.43 and a twelve month high of $96.81. The company has a market capitalization of $10.09 billion, a P/E ratio of 17.22 and a beta of 1.01. The firm has a 50 day moving average of $77.35 and a 200 day moving average of $67.12.

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

Mueller Industries Announces Dividend

The business 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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 1,000 shares of the firm’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 directly owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on 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. This trade represents a 3.95 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

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.