Versor Investments LP Invests $674,000 in Mueller Industries, Inc. (NYSE:MLI)

Versor Investments LP acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 9,100 shares of the industrial products company’s stock, valued at approximately $674,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares during the last quarter. Miller Howard Investments Inc. NY boosted its position in Mueller Industries by 2.1% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 151 shares in the last quarter. Kapitalo Investimentos Ltda boosted its holdings in Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock worth $340,000 after buying an additional 156 shares in the last quarter. Summit Global Investments increased its stake in shares of Mueller Industries by 1.6% in the 2nd quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after purchasing an additional 204 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Mueller Industries by 1.8% in the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock valued at $757,000 after buying an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $91.00 on Thursday. The stock has a market capitalization of $10.35 billion, a PE ratio of 17.67 and a beta of 1.01. The company has a fifty day moving average of $76.42 and a two-hundred day moving average of $66.75. Mueller Industries, Inc. has a fifty-two week low of $39.33 and a fifty-two week high of $96.81.

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

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.88%. Mueller Industries’s payout ratio is 15.53%.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the sale, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.