41,354 Shares in Mueller Industries, Inc. (NYSE:MLI) Bought by HWG Holdings LP

HWG Holdings LP bought a new position in Mueller Industries, Inc. (NYSE:MLI) during the second quarter, according to its most recent filing with the SEC. The firm bought 41,354 shares of the industrial products company’s stock, valued at approximately $2,355,000. Mueller Industries makes up 0.9% of HWG Holdings LP’s investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of MLI. Corient Private Wealth LLC purchased a new stake in Mueller Industries in the 4th quarter valued at $584,000. Franklin Resources Inc. raised its position in Mueller Industries by 95.7% in the 4th quarter. Franklin Resources Inc. now owns 48,304 shares of the industrial products company’s stock valued at $2,278,000 after buying an additional 23,618 shares during the last quarter. US Bancorp DE raised its position in Mueller Industries by 661.9% in the 4th quarter. US Bancorp DE now owns 17,380 shares of the industrial products company’s stock valued at $819,000 after buying an additional 15,099 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Mueller Industries by 130.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 32,605 shares of the industrial products company’s stock valued at $1,500,000 after buying an additional 18,472 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Mueller Industries by 100.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 500 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John B. Hansen sold 8,000 shares of Mueller Industries 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 sale, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated Thursday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $84,904,625.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries 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 sale, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The disclosure for this sale can be found here. Insiders sold a total of 103,000 shares of company stock valued at $7,081,770 in the last ninety days. 2.80% of the stock is currently owned by insiders.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $72.10 on Monday. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $74.47. The firm has a market cap of $8.19 billion, a PE ratio of 14.45 and a beta of 1.03. The stock has a fifty day moving average price of $69.09 and a 200-day moving average price of $60.73.

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. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The firm had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.11%. The ex-dividend date 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.