Villanova Investment Management Co LLC Has $2 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Villanova Investment Management Co LLC cut its stake in Mueller Industries, Inc. (NYSE:MLI) by 27.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 26,991 shares of the industrial products company’s stock after selling 10,277 shares during the quarter. Mueller Industries makes up about 2.1% of Villanova Investment Management Co LLC’s holdings, making the stock its 15th biggest holding. Villanova Investment Management Co LLC’s holdings in Mueller Industries were worth $2,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after buying an additional 139,406 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after acquiring an additional 641,114 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Mueller Industries by 27.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after acquiring an additional 315,490 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Mueller Industries by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock valued at $66,988,000 after purchasing an additional 7,756 shares in the last quarter. Finally, FMR LLC raised its position in Mueller Industries by 2.6% in the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after purchasing an additional 27,399 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, 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 position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

Shares of MLI stock opened at $78.96 on Friday. Mueller Industries, Inc. has a 52 week low of $41.94 and a 52 week high of $96.81. The stock has a market capitalization of $8.98 billion, a PE ratio of 15.33 and a beta of 0.99. The stock’s fifty day moving average is $81.17 and its 200-day moving average is $69.65.

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

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.01%. Mueller Industries’s dividend payout ratio (DPR) is currently 15.53%.

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.