Trust Point Inc. Decreases Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Trust Point Inc. lowered its position in Mueller Industries, Inc. (NYSE:MLI) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,873 shares of the industrial products company’s stock after selling 424 shares during the period. Trust Point Inc.’s holdings in Mueller Industries were worth $509,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries during the 2nd quarter worth $26,000. Federated Hermes Inc. acquired a new stake in shares of Mueller Industries in the second quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Mueller Industries during the 2nd quarter valued at $30,000. GAMMA Investing LLC increased its position in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after buying an additional 146 shares in the last quarter. Finally, CWM LLC raised its stake in Mueller Industries by 36.9% in the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 223 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock valued at $7,081,770 over the last three months. 2.80% of the stock is owned by company insiders.

Mueller Industries Price Performance

NYSE:MLI opened at $72.23 on Friday. The firm has a market cap of $8.21 billion, a PE ratio of 14.47 and a beta of 1.03. The firm has a 50 day simple moving average of $70.58 and a 200-day simple moving average of $62.66. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $74.99.

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

Mueller Industries Dividend Announcement

The firm also recently declared 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 1.11%. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

Mueller Industries Company 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.