Cynosure Group LLC Makes New $374,000 Investment in Mueller Industries, Inc. (NYSE:MLI)

Cynosure Group LLC purchased a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,043 shares of the industrial products company’s stock, valued at approximately $374,000.

Several other large investors have also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in Mueller Industries during the 2nd quarter valued at about $26,000. Federated Hermes Inc. purchased a new position in Mueller Industries in the 2nd quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries in the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC boosted its stake in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Mueller Industries by 61.7% in the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $80.83 on Friday. Mueller Industries, Inc. has a 1 year low of $40.52 and a 1 year high of $96.81. The company has a market cap of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01. The stock’s fifty day moving average price is $80.22 and its 200-day moving average price is $68.83.

Mueller Industries (NYSE:MLI) last issued its 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 return on equity of 23.25% and a net margin of 16.39%. The business had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. The business’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently announced 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 0.99%. The ex-dividend date of this dividend 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 dated 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 in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the 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 $7,886,404.26. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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.