Tealwood Asset Management Inc. Decreases Stake in Mueller Industries, Inc. (NYSE:MLI)

Tealwood Asset Management Inc. reduced its holdings in Mueller Industries, Inc. (NYSE:MLI) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,764 shares of the industrial products company’s stock after selling 172 shares during the period. Tealwood Asset Management Inc.’s holdings in Mueller Industries were worth $1,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MLI. Stifel Financial Corp lifted its stake in shares of Mueller Industries by 95.4% in the fourth quarter. Stifel Financial Corp now owns 99,720 shares of the industrial products company’s stock worth $4,702,000 after buying an additional 48,678 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Mueller Industries during the fourth quarter worth about $508,000. Gates Capital Management Inc. increased its position in Mueller Industries by 58.4% during the fourth quarter. Gates Capital Management Inc. now owns 1,896,207 shares of the industrial products company’s stock worth $89,406,000 after purchasing an additional 699,463 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Mueller Industries by 93.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after purchasing an additional 1,855,637 shares during the last quarter. Finally, Palisade Capital Management LP increased its position in Mueller Industries by 84.9% during the fourth quarter. Palisade Capital Management LP now owns 1,017,026 shares of the industrial products company’s stock worth $47,953,000 after purchasing an additional 467,035 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Trading Down 1.0 %

Mueller Industries stock traded down $0.72 during midday trading on Tuesday, hitting $71.17. 154,099 shares of the stock were exchanged, compared to its average volume of 704,575. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $74.47. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 14.40 and a beta of 1.03. The stock’s 50-day simple moving average is $69.72 and its 200 day simple moving average is $61.57.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The firm had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s payout ratio is currently 16.03%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,000 shares of company stock worth $7,081,770 over the last three months. 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.