State of Alaska Department of Revenue Decreases Position in Mueller Industries, Inc. (NYSE:MLI)

State of Alaska Department of Revenue trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,687 shares of the industrial products company’s stock after selling 2,008 shares during the period. State of Alaska Department of Revenue’s holdings in Mueller Industries were worth $4,793,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Mueller Industries by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after acquiring an additional 59,060 shares in the last quarter. LSV Asset Management boosted its stake in shares of Mueller Industries by 44.1% during the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after buying an additional 641,114 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Mueller Industries by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock worth $66,988,000 after buying an additional 7,756 shares in the last quarter. Vest Financial LLC grew its position in shares of Mueller Industries by 18.2% during the second quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company’s stock worth $23,597,000 after buying an additional 63,828 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Mueller Industries by 7.0% in the first quarter. Bessemer Group Inc. now owns 358,479 shares of the industrial products company’s stock worth $19,333,000 after buying an additional 23,471 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

MLI opened at $83.00 on Wednesday. The stock has a market capitalization of $9.43 billion, a PE ratio of 16.63 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $36.88 and a 12-month high of $84.11. The firm’s fifty day moving average price is $72.36 and its 200 day moving average price is $64.18.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s dividend payout ratio is presently 16.03%.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the transaction, the chief executive officer now owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Company Profile

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.