SkyOak Wealth LLC Reduces Position in Mueller Industries, Inc. (NYSE:MLI)

SkyOak Wealth LLC cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 10.5% during the second quarter, Holdings Channel.com reports. The firm owned 6,034 shares of the industrial products company’s stock after selling 709 shares during the period. SkyOak Wealth LLC’s holdings in Mueller Industries were worth $344,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MLI. Avantax Advisory Services Inc. raised its holdings in shares of Mueller Industries by 126.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,190 shares of the industrial products company’s stock worth $339,000 after buying an additional 4,014 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Mueller Industries by 48.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 9,260 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 3,021 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Mueller Industries by 100.0% during the 4th quarter. Panagora Asset Management Inc. now owns 7,600 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 3,800 shares during the period. Brown Advisory Inc. grew its stake in Mueller Industries by 100.0% during the 4th quarter. Brown Advisory Inc. now owns 20,240 shares of the industrial products company’s stock valued at $954,000 after purchasing an additional 10,120 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Mueller Industries in the fourth quarter worth about $59,606,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, 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 completion of the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,000 shares of company stock worth $7,081,770. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Up 1.0 %

Shares of NYSE MLI opened at $71.23 on Wednesday. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $72.83. The firm has a market cap of $8.09 billion, a P/E ratio of 14.27 and a beta of 1.03. The business’s 50 day moving average price is $67.15 and its 200 day moving average price is $59.45.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, September 6th. Mueller Industries’s payout ratio is presently 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.