MetLife Investment Management LLC Sells 1,089 Shares of Mueller Industries, Inc. (NYSE:MLI)

MetLife Investment Management LLC lowered its position in Mueller Industries, Inc. (NYSE:MLI) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,348 shares of the industrial products company’s stock after selling 1,089 shares during the period. MetLife Investment Management LLC owned about 0.06% of Mueller Industries worth $4,694,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MLI. New York State Common Retirement Fund grew its stake in shares of Mueller Industries by 20.4% during the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after purchasing an additional 68,633 shares during the period. Farther Finance Advisors LLC increased its holdings in Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after buying an additional 7,843 shares during the last quarter. SG Americas Securities LLC raised its position in Mueller Industries by 314.6% in the second quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock worth $2,166,000 after acquiring an additional 28,865 shares during the period. Creative Planning raised its position in Mueller Industries by 36.5% in the third quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after acquiring an additional 10,714 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Mueller Industries by 8,040.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 19,455 shares of the industrial products company’s stock worth $1,442,000 after acquiring an additional 19,216 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

NYSE:MLI opened at $80.77 on Monday. Mueller Industries, Inc. has a one year low of $40.69 and a one year high of $96.81. The business has a fifty day moving average price of $80.53 and a 200-day moving average price of $69.14. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 15.68 and a beta of 1.01.

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

Mueller Industries Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. Mueller Industries’s payout ratio is currently 15.53%.

Insider Transactions at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the 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 owns 17,733 shares in the company, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.