Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 2.5% in the third quarter, HoldingsChannel reports. The fund owned 44,003 shares of the industrial products company’s stock after selling 1,148 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Mueller Industries were worth $3,261,000 at the end of the most recent reporting period.

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

Mueller Industries Trading Up 0.4 %

NYSE:MLI opened at $78.96 on Friday. The company has a 50-day moving average of $81.17 and a 200-day moving average of $69.65. Mueller Industries, Inc. has a twelve month low of $41.94 and a twelve month high of $96.81. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 15.33 and a beta of 0.99.

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

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio is 15.53%.

Insider Buying and Selling

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

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.