Mueller Industries, Inc. (NYSE:MLI) Position Raised by Crestmont Private Wealth LLC

Crestmont Private Wealth LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,506 shares of the industrial products company’s stock after purchasing an additional 491 shares during the quarter. Mueller Industries comprises 0.3% of Crestmont Private Wealth LLC’s holdings, making the stock its 25th biggest position. Crestmont Private Wealth LLC’s holdings in Mueller Industries were worth $630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Mueller Industries by 100.0% during the fourth quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock valued at $579,945,000 after purchasing an additional 6,150,358 shares in the last quarter. LSV Asset Management raised its position in shares of Mueller Industries by 44.1% during the 2nd 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 in the last quarter. F M Investments LLC acquired a new stake in shares of Mueller Industries in the 2nd quarter worth approximately $14,441,000. Goldman Sachs Group Inc. increased its stake in shares of Mueller Industries by 38.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 613,862 shares of the industrial products company’s stock valued at $28,944,000 after acquiring an additional 171,930 shares during the period. Finally, Congress Asset Management Co. MA raised its holdings in Mueller Industries by 100.5% during the fourth quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock worth $9,472,000 after purchasing an additional 100,696 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI opened at $72.84 on Friday. The firm’s 50 day moving average is $69.95 and its 200-day moving average is $62.04. The stock has a market capitalization of $8.27 billion, a P/E ratio of 14.60 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $74.47.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The company had revenue of $997.75 million for the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.10%. Mueller Industries’s payout ratio is presently 16.03%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the transaction, the chief executive officer now owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock valued at $7,081,770 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

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.