SkyOak Wealth LLC Lowers Stock Position in Mueller Industries, Inc. (NYSE:MLI)

SkyOak Wealth LLC cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,034 shares of the industrial products company’s stock after selling 709 shares during the quarter. SkyOak Wealth LLC’s holdings in Mueller Industries were worth $344,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Mueller Industries by 100.0% in the 4th quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock worth $579,945,000 after purchasing an additional 6,150,358 shares in the last quarter. First Trust Advisors LP boosted its holdings in Mueller Industries by 94.5% in the fourth quarter. First Trust Advisors LP now owns 5,618,664 shares of the industrial products company’s stock worth $264,920,000 after acquiring an additional 2,729,382 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Mueller Industries by 93.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after acquiring an additional 1,855,637 shares during the last quarter. Norges Bank bought a new position in shares of Mueller Industries during the fourth quarter valued at $59,606,000. Finally, Gabelli Funds LLC raised its position in shares of Mueller Industries by 94.2% in the 4th quarter. Gabelli Funds LLC now owns 2,461,800 shares of the industrial products company’s stock worth $116,074,000 after purchasing an additional 1,193,900 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries 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 transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,000 shares of company stock worth $7,081,770. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI stock opened at $71.23 on Wednesday. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 14.27 and a beta of 1.03. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $72.83. The company’s 50-day moving average is $67.15 and its 200 day moving average is $59.45.

Mueller Industries (NYSE:MLI) last posted its earnings results 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 business had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%. Mueller Industries’s dividend payout ratio is currently 16.03%.

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.