Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Quest Partners LLC

Quest Partners LLC raised its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 107,875.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,319 shares of the industrial products company’s stock after buying an additional 4,315 shares during the quarter. Quest Partners LLC’s holdings in Mueller Industries were worth $320,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MLI. International Assets Investment Management LLC purchased a new stake in shares of Mueller Industries during the second quarter worth $26,000. Federated Hermes Inc. purchased a new stake in shares of Mueller Industries during the second quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Mueller Industries during the second quarter worth $30,000. GAMMA Investing LLC grew its holdings in shares of 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, Larson Financial Group LLC grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 6.6 %

Mueller Industries stock opened at $82.08 on Tuesday. Mueller Industries, Inc. has a 52-week low of $40.52 and a 52-week high of $96.81. The company has a fifty day simple moving average of $79.82 and a 200-day simple moving average of $68.59. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 15.94 and a beta of 1.01.

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

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.97%. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 completion of the sale, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s 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 transaction, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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.