Intech Investment Management LLC Purchases 15,407 Shares of Mueller Industries, Inc. (NYSE:MLI)

Intech Investment Management LLC increased its position in Mueller Industries, Inc. (NYSE:MLI) by 32.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,248 shares of the industrial products company’s stock after purchasing an additional 15,407 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Mueller Industries worth $4,687,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake 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 valued at $666,524,000 after buying an additional 59,060 shares in the last quarter. LSV Asset Management lifted its position in Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after acquiring an additional 641,114 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Mueller Industries by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock valued at $66,988,000 after acquiring an additional 7,756 shares in the last quarter. Fiera Capital Corp acquired a new position in Mueller Industries during the 3rd quarter valued at about $35,552,000. Finally, Vest Financial LLC increased its holdings in Mueller Industries by 18.2% during the 2nd quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company’s stock worth $23,597,000 after purchasing an additional 63,828 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Down 4.2 %

MLI stock opened at $87.82 on Friday. The firm has a market capitalization of $9.99 billion, a PE ratio of 17.05 and a beta of 1.01. Mueller Industries, Inc. has a twelve month low of $40.43 and a twelve month high of $96.81. The stock’s 50 day moving average is $79.59 and its 200-day moving average is $68.29.

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

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 given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, December 6th. Mueller Industries’s payout ratio is 15.53%.

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated 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 directly owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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.