Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by State Street Corp

State Street Corp increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,451,143 shares of the industrial products company’s stock after buying an additional 139,406 shares during the quarter. State Street Corp owned about 3.91% of Mueller Industries worth $329,830,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CWM LLC increased its stake in shares of Mueller Industries by 113.8% in the second quarter. CWM LLC now owns 1,768 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 941 shares during the period. SG Americas Securities LLC boosted its holdings 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 valued at $2,166,000 after purchasing an additional 28,865 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Mueller Industries during the 2nd quarter worth about $250,000. Welch Group LLC lifted its holdings in shares of Mueller Industries by 76.0% in the 2nd quarter. Welch Group LLC now owns 22,000 shares of the industrial products company’s stock valued at $1,253,000 after buying an additional 9,500 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Mueller Industries by 46.0% in the 2nd quarter. Blue Trust Inc. now owns 3,800 shares of the industrial products company’s stock valued at $205,000 after buying an additional 1,197 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the 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 transaction, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.9 %

Mueller Industries stock opened at $78.03 on Tuesday. Mueller Industries, Inc. has a 52 week low of $41.94 and a 52 week high of $96.81. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of 15.15 and a beta of 0.99. The business’s 50-day moving average price is $81.38 and its 200 day moving average price is $70.09.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data 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. 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 analysts’ expectations of $936.00 million. The business’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently disclosed 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 1.03%. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

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.