Martingale Asset Management L P Has $6.30 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Martingale Asset Management L P trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,073 shares of the industrial products company’s stock after selling 6,908 shares during the quarter. Martingale Asset Management L P’s holdings in Mueller Industries were worth $6,304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MLI. LSV Asset Management lifted its stake in shares of Mueller Industries by 44.1% in the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after buying an additional 641,114 shares during the last quarter. Fiera Capital Corp bought a new position in Mueller Industries during the third quarter worth $35,552,000. Charles Schwab Investment Management Inc. increased its position in Mueller Industries by 27.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after acquiring an additional 315,490 shares during the period. F M Investments LLC bought a new position in Mueller Industries during the second quarter worth $14,441,000. Finally, Massachusetts Financial Services Co. MA increased its position in Mueller Industries by 1,124.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock worth $5,633,000 after acquiring an additional 90,841 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Up 0.0 %

Shares of MLI stock opened at $80.84 on Friday. Mueller Industries, Inc. has a 1 year low of $40.69 and a 1 year high of $96.81. The firm’s fifty day simple moving average is $80.37 and its 200 day simple moving average is $68.92. The firm has a market capitalization of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last announced its earnings results 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. 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 for the quarter, compared to analyst estimates of $936.00 million. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.53%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. 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.