Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 27.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,469,736 shares of the industrial products company’s stock after buying an additional 315,490 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.29% of Mueller Industries worth $108,907,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MLI. International Assets Investment Management LLC acquired a new stake in Mueller Industries during the second quarter worth about $26,000. Federated Hermes Inc. acquired a new stake in Mueller Industries during the 2nd quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new position in Mueller Industries in the second quarter valued at approximately $30,000. GAMMA Investing LLC lifted 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 valued at $41,000 after buying an additional 146 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in Mueller Industries by 61.7% during the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after buying an additional 369 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Down 6.6 %

Shares of MLI stock opened at $82.08 on Tuesday. The company has a market cap of $9.34 billion, a PE ratio of 15.94 and a beta of 1.01. The company’s fifty day simple moving average is $79.82 and its 200-day simple moving average is $68.59. Mueller Industries, Inc. has a 52 week low of $40.52 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating 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 company had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries’s revenue for the quarter 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. This represents a $0.80 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Insider Activity

In related news, 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 value of $1,380,600.00. Following the transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % 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 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 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.