Crestmont Private Wealth LLC Acquires 491 Shares of Mueller Industries, Inc. (NYSE:MLI)

Crestmont Private Wealth LLC lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,506 shares of the industrial products company’s stock after purchasing an additional 491 shares during the period. Mueller Industries accounts for about 0.3% of Crestmont Private Wealth LLC’s portfolio, making the stock its 25th largest position. Crestmont Private Wealth LLC’s holdings in Mueller Industries were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLI. Vanguard Group Inc. raised its position in shares of Mueller Industries by 100.0% during the 4th quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock valued at $579,945,000 after acquiring an additional 6,150,358 shares during the last quarter. LSV Asset Management increased its holdings in Mueller Industries by 44.1% in the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after purchasing an additional 641,114 shares during the last quarter. F M Investments LLC acquired a new position in Mueller Industries in the second quarter valued at about $14,441,000. Goldman Sachs Group Inc. boosted its holdings in Mueller Industries by 38.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 613,862 shares of the industrial products company’s stock worth $28,944,000 after buying an additional 171,930 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its position in shares of Mueller Industries by 100.5% during the 4th quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock worth $9,472,000 after buying an additional 100,696 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

NYSE:MLI opened at $72.84 on Friday. The stock has a market capitalization of $8.27 billion, a PE ratio of 14.60 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $74.47. The business’s 50-day simple moving average is $69.95 and its 200-day simple moving average is $62.04.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The company had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, September 6th. Mueller Industries’s dividend payout ratio is 16.03%.

Insider Transactions at Mueller Industries

In related news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was 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 $84,904,625.12. This represents 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 the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the transaction, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,000 shares of company stock valued at $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.