Mueller Industries, Inc. (NYSE:MLI) Shares Sold by XTX Topco Ltd

XTX Topco Ltd decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,383 shares of the industrial products company’s stock after selling 1,337 shares during the quarter. XTX Topco Ltd’s holdings in Mueller Industries were worth $867,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its stake in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 168 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Mueller Industries by 5.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 187 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in Mueller Industries by 4.4% in the first quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 187 shares in the last quarter. Texas Yale Capital Corp. grew its stake in Mueller Industries by 6.0% in the fourth quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 200 shares in the last quarter. Finally, Monument Capital Management grew its stake in Mueller Industries by 4.4% in the first quarter. Monument Capital Management now owns 4,898 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $83.36 on Monday. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 13.23 and a beta of 1.02. Mueller Industries, Inc. has a one year low of $62.74 and a one year high of $96.81. The stock has a 50-day simple moving average of $80.86 and a 200 day simple moving average of $78.62.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. Mueller Industries’s revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Mueller Industries’s dividend payout ratio (DPR) is currently 15.87%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director directly owned 93,914 shares in the company, valued at $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, the director owned 100,082 shares of the company’s stock, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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.