Principal Financial Group Inc. Lowers Position in Mueller Industries, Inc. (MLI)
Principal Financial Group Inc. lessened its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 529,469 shares of the industrial products company’s stock after selling 3,682 shares during the period. Principal Financial Group Inc. owned 0.92% of Mueller Industries worth $18,505,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MLI. Nisa Investment Advisors LLC acquired a new stake in Mueller Industries during the 2nd quarter worth $152,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Mueller Industries during the 2nd quarter worth $206,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Mueller Industries during the 3rd quarter worth $227,000. Amalgamated Bank grew its holdings in Mueller Industries by 5.2% during the 2nd quarter. Amalgamated Bank now owns 7,949 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 394 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Mueller Industries during the 2nd quarter worth $266,000. 91.05% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub lowered shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Friday, August 18th.
In other Mueller Industries news, Director Charles P. Herzog, Jr. bought 3,624 shares of the stock in a transaction on Friday, October 27th. The stock was purchased at an average price of $34.72 per share, with a total value of $125,825.28. Following the acquisition, the director now owns 3,624 shares of the company’s stock, valued at $125,825.28. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 2,000 shares of Mueller Industries stock in a transaction on Monday, October 30th. The stock was sold at an average price of $33.15, for a total transaction of $66,300.00. Following the sale, the director now directly owns 45,607 shares of the company’s stock, valued at approximately $1,511,872.05. The disclosure for this sale can be found here. 2.79% of the stock is currently owned by insiders.
Mueller Industries, Inc. (NYSE:MLI) traded up $0.05 on Friday, reaching $35.09. 104,633 shares of the company’s stock were exchanged, compared to its average volume of 134,855. The company has a quick ratio of 1.67, a current ratio of 2.83 and a debt-to-equity ratio of 0.73. Mueller Industries, Inc. has a 12-month low of $27.72 and a 12-month high of $43.96. The firm has a market cap of $2,025.50, a price-to-earnings ratio of 20.73 and a beta of 1.39.
Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.39 EPS for the quarter. Mueller Industries had a net margin of 4.39% and a return on equity of 15.68%. The firm had revenue of $550.36 million during the quarter.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, November 30th. Mueller Industries’s dividend payout ratio is presently 23.67%.
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.
Want to see what other hedge funds are holding MLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Industries, Inc. (NYSE:MLI).
Receive News & Ratings for Mueller Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.