Hardy Reed LLC Trims Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Hardy Reed LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,103 shares of the industrial products company’s stock after selling 673 shares during the quarter. Hardy Reed LLC’s holdings in Mueller Industries were worth $749,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BOKF NA boosted its stake in Mueller Industries by 72.5% during the first quarter. BOKF NA now owns 7,156 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 3,007 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Mueller Industries by 5.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 92,346 shares of the industrial products company’s stock valued at $4,981,000 after buying an additional 4,477 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Mueller Industries by 24.0% in the first 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 in the last quarter. EMC Capital Management boosted its holdings in Mueller Industries by 233.9% in the first quarter. EMC Capital Management now owns 9,469 shares of the industrial products company’s stock worth $511,000 after acquiring an additional 6,633 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Mueller Industries in the first quarter worth $267,000. Institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction 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 directly owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

MLI opened at $81.29 on Wednesday. The firm has a market cap of $9.25 billion, a PE ratio of 15.78 and a beta of 1.01. The stock has a 50-day moving average price of $79.82 and a 200-day moving average price of $68.59. Mueller Industries, Inc. has a 1 year low of $40.52 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) 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 business had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

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

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.