Westfield Capital Management Co. LP Buys 3,148 Shares of Mueller Industries, Inc. (NYSE:MLI)

Westfield Capital Management Co. LP lifted its position in Mueller Industries, Inc. (NYSE:MLI) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,648 shares of the industrial products company’s stock after acquiring an additional 3,148 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Mueller Industries were worth $13,534,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MLI. International Assets Investment Management LLC bought a new position in Mueller Industries in the second quarter worth approximately $26,000. Federated Hermes Inc. purchased a new position in shares of Mueller Industries in the 2nd quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries in the second quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after buying an additional 146 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Mueller Industries in the third quarter valued at about $64,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $87.90 on Monday. Mueller Industries, Inc. has a one year low of $40.43 and a one year high of $96.81. The firm’s fifty day moving average is $79.59 and its two-hundred day moving average is $68.43. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 17.07 and a beta of 1.01.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction 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 directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 17,733 shares of the company’s stock, 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. Insiders own 2.80% of the company’s stock.

About Mueller Industries

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.