Harbor Capital Advisors Inc. Makes New $64,000 Investment in Mueller Industries, Inc. (NYSE:MLI)

Harbor Capital Advisors Inc. purchased a new position in Mueller Industries, Inc. (NYSE:MLI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 869 shares of the industrial products company’s stock, valued at approximately $64,000.

Several other institutional investors also recently modified their holdings of MLI. LSV Asset Management increased its stake in shares of Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after acquiring an additional 641,114 shares in the last quarter. F M Investments LLC bought a new position in shares of Mueller Industries in the 2nd quarter worth about $14,441,000. Massachusetts Financial Services Co. MA increased its stake in shares of Mueller Industries by 1,124.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock worth $5,633,000 after acquiring an additional 90,841 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Mueller Industries by 163.6% in the 2nd quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock worth $6,790,000 after acquiring an additional 73,567 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Mueller Industries by 20.4% in the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after acquiring an additional 68,633 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $94.42 on Friday. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 18.33 and a beta of 1.01. Mueller Industries, Inc. has a 1 year low of $37.54 and a 1 year high of $95.84. The company has a 50-day moving average of $75.01 and a 200 day moving average of $65.95.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million during 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 firm’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.85%. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s 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 approximately $84,904,625.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,000 shares of company stock worth $6,626,940. 2.80% of the stock is owned by corporate insiders.

Mueller Industries 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.