Profund Advisors LLC Sells 523 Shares of Mueller Industries, Inc. (NYSE:MLI)

Profund Advisors LLC cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,980 shares of the industrial products company’s stock after selling 523 shares during the period. Profund Advisors LLC’s holdings in Mueller Industries were worth $341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ensign Peak Advisors Inc raised its holdings in Mueller Industries by 8.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 75,454 shares of the industrial products company’s stock worth $4,296,000 after purchasing an additional 5,610 shares during the period. Sei Investments Co. increased its position in Mueller Industries by 36.2% in the second quarter. Sei Investments Co. now owns 132,970 shares of the industrial products company’s stock worth $7,571,000 after buying an additional 35,306 shares in the last quarter. GM Advisory Group LLC bought a new position in shares of Mueller Industries in the second quarter worth about $205,000. Intech Investment Management LLC purchased a new position in Mueller Industries during the second quarter valued at approximately $2,724,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Mueller Industries by 1.8% during the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock valued at $757,000 after buying an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In related news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. In other news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the company’s 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 transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. The disclosure for this sale can be found here. Insiders have sold a total of 103,000 shares of company stock worth $7,081,770 in the last three months. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Up 1.5 %

NYSE MLI opened at $71.60 on Friday. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $74.47. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 14.35 and a beta of 1.03. The business has a 50-day moving average price of $68.91 and a 200-day moving average price of $60.46.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.29 by $0.12. The business had revenue of $997.75 million during the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. Mueller Industries’s 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.