Ensign Peak Advisors Inc Acquires 5,610 Shares of Mueller Industries, Inc. (NYSE:MLI)

Ensign Peak Advisors Inc raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,454 shares of the industrial products company’s stock after acquiring an additional 5,610 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Mueller Industries were worth $4,296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Mueller Industries during the second quarter valued at about $26,000. Federated Hermes Inc. bought a new stake in shares of Mueller Industries in the 2nd quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Mueller Industries in the 2nd quarter worth approximately $30,000. LifeSteps Financial Inc. bought a new position in shares of Mueller Industries during the 1st quarter worth approximately $43,000. Finally, CWM LLC lifted its position in Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the sale, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Trading Up 1.5 %

NYSE MLI opened at $71.60 on Friday. The firm’s fifty day simple moving average is $68.91 and its two-hundred day simple moving average is $60.46. The firm has a market capitalization of $8.13 billion, a P/E ratio of 14.35 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $74.47.

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

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders 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 dividend payout ratio is presently 16.03%.

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.