Wells Fargo & Company MN Has $73.54 Million Holdings in Mueller Industries, Inc. (MLI)
Wells Fargo & Company MN raised its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,104,052 shares of the industrial products company’s stock after purchasing an additional 161,718 shares during the period. Wells Fargo & Company MN owned 3.64% of Mueller Industries worth $73,536,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of MLI. Nisa Investment Advisors LLC acquired a new stake in shares of Mueller Industries in the 2nd quarter worth approximately $152,000. Aperio Group LLC lifted its stake in shares of Mueller Industries by 10.9% in the 2nd quarter. Aperio Group LLC now owns 14,624 shares of the industrial products company’s stock worth $445,000 after acquiring an additional 1,434 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Mueller Industries by 4.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 84,740 shares of the industrial products company’s stock worth $2,577,000 after acquiring an additional 3,420 shares during the period. Texas Permanent School Fund lifted its stake in shares of Mueller Industries by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 42,056 shares of the industrial products company’s stock worth $1,281,000 after acquiring an additional 351 shares during the period. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Mueller Industries in the 2nd quarter worth approximately $323,000. 90.17% of the stock is owned by institutional investors.
Shares of Mueller Industries, Inc. (NYSE:MLI) traded down $0.07 during trading hours on Thursday, hitting $35.63. 226,200 shares of the stock were exchanged, compared to its average volume of 173,735. The firm has a market cap of $2,063.65, a price-to-earnings ratio of 21.12 and a beta of 1.41. Mueller Industries, Inc. has a 12 month low of $27.72 and a 12 month high of $43.96. The company has a current ratio of 2.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.73.
Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.39 earnings per share for the quarter. The company had revenue of $550.36 million during the quarter. Mueller Industries had a net margin of 4.39% and a return on equity of 15.68%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.12%. Mueller Industries’s payout ratio is currently 23.67%.
In other Mueller Industries news, Director Charles P. Herzog, Jr. bought 3,624 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were acquired at an average cost of $34.72 per share, for a total transaction of $125,825.28. Following the acquisition, the director now directly owns 3,624 shares of the company’s stock, valued at $125,825.28. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 45,607 shares in the company, valued at $1,511,872.05. The disclosure for this sale can be found here. 2.79% of the stock is owned by insiders.
Separately, BidaskClub lowered shares of Mueller Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 18th.
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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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