Mueller Industries, Inc. (MLI) Shares Bought by Nationwide Fund Advisors
Nationwide Fund Advisors grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 135,153 shares of the industrial products company’s stock after acquiring an additional 10,230 shares during the period. Nationwide Fund Advisors owned about 0.23% of Mueller Industries worth $4,115,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new position in shares of Mueller Industries during the 1st quarter worth approximately $168,000. Nisa Investment Advisors LLC purchased a new position in shares of Mueller Industries during the 2nd quarter worth approximately $152,000. Two Sigma Securities LLC purchased a new position in shares of Mueller Industries during the 1st quarter worth approximately $222,000. Sii Investments Inc. WI purchased a new position in shares of Mueller Industries during the 1st quarter worth approximately $275,000. Finally, Invictus RG purchased a new position in shares of Mueller Industries during the 1st quarter worth approximately $344,000. Hedge funds and other institutional investors own 91.12% of the company’s stock.
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In other news, CFO Jeffrey Andrew Martin sold 3,500 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $32.01, for a total transaction of $112,035.00. Following the sale, the chief financial officer now directly owns 111,146 shares of the company’s stock, valued at $3,557,783.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hansen sold 2,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $31.05, for a total transaction of $62,100.00. Following the sale, the director now directly owns 45,607 shares in the company, valued at $1,416,097.35. The disclosure for this sale can be found here. 2.79% of the stock is currently owned by insiders.
Separately, BidaskClub downgraded Mueller Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 18th.
Shares of Mueller Industries, Inc. (NYSE:MLI) opened at 35.31 on Friday. Mueller Industries, Inc. has a 1-year low of $27.72 and a 1-year high of $43.96. The company has a 50 day moving average price of $31.53 and a 200 day moving average price of $31.10. The stock has a market cap of $2.03 billion, a P/E ratio of 20.17 and a beta of 1.41.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, August 31st. Mueller Industries’s dividend payout ratio is currently 22.86%.
Mueller Industries Company Profile
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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