Isthmus Partners LLC Cuts Stake in Mueller Industries, Inc. (NYSE:MLI)

Isthmus Partners LLC lessened its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 20.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,401 shares of the industrial products company’s stock after selling 14,849 shares during the quarter. Isthmus Partners LLC’s holdings in Mueller Industries were worth $4,179,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its position 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. Miller Howard Investments Inc. NY grew its position in Mueller Industries by 2.1% in the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 151 shares in the last quarter. Kapitalo Investimentos Ltda grew its position in Mueller Industries by 3.5% in the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 156 shares in the last quarter. GM Advisory Group LLC grew its position in Mueller Industries by 5.3% in the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 192 shares in the last quarter. Finally, Summit Global Investments grew its position in Mueller Industries by 1.6% in the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.6 %

Shares of NYSE:MLI opened at $80.83 on Friday. Mueller Industries, Inc. has a 52-week low of $40.52 and a 52-week high of $96.81. The company has a 50 day moving average of $80.22 and a two-hundred day moving average of $68.83. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 15.70 and a beta of 1.01.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s payout ratio is currently 15.53%.

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.