Assetmark Inc. Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

Assetmark Inc. lifted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 20.8% in the third quarter, HoldingsChannel reports. The fund owned 122,625 shares of the industrial products company’s stock after buying an additional 21,119 shares during the period. Assetmark Inc.’s holdings in Mueller Industries were worth $9,087,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Mueller Industries by 0.5% in the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after buying an additional 59,060 shares during the period. LSV Asset Management increased its stake in Mueller Industries by 44.1% in the 2nd 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 during the period. Bank of New York Mellon Corp lifted its position in Mueller Industries by 0.7% in 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 purchasing an additional 7,756 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of Mueller Industries during the third quarter valued at approximately $35,552,000. Finally, Vest Financial LLC grew its holdings in shares of Mueller Industries by 18.2% in the second quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company’s stock worth $23,597,000 after purchasing an additional 63,828 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Up 1.0 %

NYSE:MLI opened at $94.40 on Monday. The firm has a market capitalization of $10.74 billion, a P/E ratio of 18.33 and a beta of 1.01. The company has a fifty day moving average of $75.01 and a 200 day moving average of $66.06. Mueller Industries, Inc. has a 52 week low of $37.54 and a 52 week high of $95.84.

Mueller Industries (NYSE:MLI) last issued 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 net margin of 16.39% and a return on equity of 23.25%. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.85%. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Activity

In related news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction dated Thursday, August 22nd. The shares were 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 directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,000 shares of company stock valued at $6,626,940. Company insiders own 2.80% of the company’s stock.

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.