Massachusetts Financial Services Co. MA Acquires 3,497 Shares of Mueller Industries, Inc. (NYSE:MLI)

Massachusetts Financial Services Co. MA boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,417 shares of the industrial products company’s stock after purchasing an additional 3,497 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Mueller Industries were worth $7,589,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. LSV Asset Management raised its position in shares of Mueller Industries by 44.1% during the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after acquiring an additional 641,114 shares during the last quarter. Fiera Capital Corp acquired a new stake in Mueller Industries during the 3rd quarter valued at approximately $35,552,000. F M Investments LLC bought a new position in Mueller Industries during the 2nd quarter worth approximately $14,441,000. Bank of Montreal Can lifted its position in shares of Mueller Industries by 163.6% in the 2nd quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock worth $6,790,000 after purchasing an additional 73,567 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Mueller Industries by 20.4% in 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 last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Down 1.0 %

MLI opened at $81.29 on Wednesday. The stock has a market cap of $9.25 billion, a PE ratio of 15.78 and a beta of 1.01. Mueller Industries, Inc. has a twelve month low of $40.52 and a twelve month high of $96.81. The company has a fifty day moving average of $79.82 and a 200-day moving average of $68.59.

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

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Insider Activity

In other news, 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 transaction of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

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.