Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 18.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,153 shares of the industrial products company’s stock after acquiring an additional 801 shares during the period. Quantinno Capital Management LP’s holdings in Mueller Industries were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LSV Asset Management raised its holdings in Mueller Industries by 44.1% during the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after purchasing an additional 641,114 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after buying an additional 315,490 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in 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 valued at $66,988,000 after buying an additional 7,756 shares in the last quarter. FMR LLC grew its holdings in Mueller Industries by 2.6% during the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after acquiring an additional 27,399 shares during the period. Finally, Fiera Capital Corp bought a new stake in Mueller Industries in the third quarter worth about $35,552,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

NYSE MLI opened at $82.48 on Monday. Mueller Industries, Inc. has a 1 year low of $44.03 and a 1 year high of $96.81. The business’s fifty day moving average is $82.18 and its two-hundred day moving average is $70.78. The stock has a market capitalization of $9.38 billion, a P/E ratio of 16.02 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced its earnings results 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 business 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%. Mueller Industries’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, December 6th. Mueller Industries’s payout ratio is 15.53%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday, December 11th.

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.