Truvestments Capital LLC Invests $146,000 in Mueller Industries, Inc. (NYSE:MLI)

Truvestments Capital LLC bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,966 shares of the industrial products company’s stock, valued at approximately $146,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. New York State Common Retirement Fund boosted its stake in Mueller Industries by 20.4% in the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after purchasing an additional 68,633 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after buying an additional 7,843 shares during the period. SG Americas Securities LLC increased its position in shares of Mueller Industries by 314.6% in the 2nd quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock valued at $2,166,000 after acquiring an additional 28,865 shares during the period. Janus Henderson Group PLC raised its stake in Mueller Industries by 24.0% in the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after acquiring an additional 21,404 shares during the last quarter. Finally, Creative Planning lifted its position in Mueller Industries by 36.5% during the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after acquiring an additional 10,714 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of MLI stock opened at $81.29 on Wednesday. Mueller Industries, Inc. has a fifty-two week low of $40.52 and a fifty-two week high of $96.81. The firm has a market capitalization of $9.25 billion, a PE ratio of 15.78 and a beta of 1.01. The stock’s 50-day simple moving average is $79.82 and its 200-day simple moving average is $68.59.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share 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 company had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. The company’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. Mueller Industries’s dividend payout ratio is presently 15.53%.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This 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 owned by corporate insiders.

Mueller Industries 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.