Versor Investments LP Buys New Shares in Mueller Industries, Inc. (NYSE:MLI)

Versor Investments LP purchased a new position in Mueller Industries, Inc. (NYSE:MLI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,100 shares of the industrial products company’s stock, valued at approximately $674,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of Mueller Industries by 262.5% in the 1st quarter. SG Americas Securities LLC now owns 9,176 shares of the industrial products company’s stock valued at $495,000 after purchasing an additional 6,645 shares during the period. Avantax Advisory Services Inc. boosted its holdings in Mueller Industries by 21.8% in the first quarter. Avantax Advisory Services Inc. now owns 8,758 shares of the industrial products company’s stock worth $472,000 after purchasing an additional 1,568 shares during the last quarter. ProShare Advisors LLC increased its position in Mueller Industries by 7.4% during the first quarter. ProShare Advisors LLC now owns 22,639 shares of the industrial products company’s stock valued at $1,221,000 after acquiring an additional 1,554 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Mueller Industries during the 1st quarter valued at about $760,000. Finally, Orion Portfolio Solutions LLC increased its holdings in Mueller Industries by 0.7% during the first quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company’s stock valued at $1,771,000 after buying an additional 240 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Gregory L. Christopher sold 50,000 shares of the firm’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 directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory L. Christopher sold 50,000 shares of the business’s 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 transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $91.00 on Thursday. Mueller Industries, Inc. has a one year low of $39.33 and a one year high of $96.81. The stock has a market cap of $10.35 billion, a P/E ratio of 17.67 and a beta of 1.01. The stock’s fifty day moving average is $76.42 and its 200 day moving average is $66.75.

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

Mueller Industries Dividend Announcement

The business 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 of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.88%. Mueller Industries’s dividend payout ratio is 15.53%.

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.