71,627 Shares in Mueller Industries, Inc. $MLI Bought by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 71,627 shares of the industrial products company’s stock, valued at approximately $5,692,000. Quantbot Technologies LP owned approximately 0.06% of Mueller Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Edgestream Partners L.P. increased its holdings in shares of Mueller Industries by 67.1% during the 2nd quarter. Edgestream Partners L.P. now owns 70,272 shares of the industrial products company’s stock valued at $5,585,000 after acquiring an additional 28,222 shares during the last quarter. Brentview Investment Management LLC acquired a new position in Mueller Industries during the second quarter valued at approximately $2,991,000. New York State Common Retirement Fund raised its position in shares of Mueller Industries by 2.4% in the second quarter. New York State Common Retirement Fund now owns 394,852 shares of the industrial products company’s stock valued at $31,379,000 after purchasing an additional 9,356 shares during the period. F m Investments LLC raised its position in shares of Mueller Industries by 0.3% in the second quarter. F m Investments LLC now owns 82,027 shares of the industrial products company’s stock valued at $6,519,000 after purchasing an additional 236 shares during the period. Finally, Norges Bank acquired a new stake in shares of Mueller Industries in the second quarter worth $127,287,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $103.42, for a total value of $5,171,000.00. Following the completion of the transaction, the chief executive officer owned 1,069,241 shares of the company’s stock, valued at $110,580,904.22. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the sale, the director directly owned 91,664 shares in the company, valued at $9,689,801.44. The trade was a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 355,234 shares of company stock worth $36,944,652. Company insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries has a consensus rating of “Buy” and an average price target of $105.00.

Mueller Industries Trading Up 0.9%

MLI opened at $110.63 on Wednesday. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $111.85. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 16.51 and a beta of 1.04. The business has a 50 day moving average of $104.13 and a 200-day moving average of $92.55.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.During the same period last year, the firm posted $1.48 EPS. The company’s revenue was up 8.0% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Mueller Industries’s dividend payout ratio is currently 14.93%.

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.