Harvest Fund Management Co. Ltd Makes New $591,000 Investment in Mueller Industries, Inc. (NYSE:MLI)

by · The Markets Daily

Harvest Fund Management Co. Ltd acquired a new stake in Mueller Industries, Inc. (NYSE:MLI – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,973 shares of the industrial products company’s stock, valued at approximately $591,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Mueller Industries by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 151 shares during the last quarter. Kapitalo Investimentos Ltda grew its stake in shares of Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 156 shares in the last quarter. GM Advisory Group LLC increased its holdings in Mueller Industries by 5.3% in the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after buying an additional 192 shares during the last quarter. Finally, Summit Global Investments increased its holdings in Mueller Industries by 1.6% in the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated 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 in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hansen sold 1,000 shares of the company’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 completion of the sale, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $81.29 on Wednesday. The business has a 50-day moving average of $79.82 and a two-hundred day moving average of $68.59. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 15.78 and a beta of 1.01. Mueller Industries, Inc. has a 1 year low of $40.52 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating 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 company had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries’s quarterly revenue was up 21.7% compared to the same quarter last year.

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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

Mueller Industries Company Profile

(Free Report)

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.

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