Bridgewater Associates LP Has $3.07 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Bridgewater Associates LP trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 26.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,381 shares of the industrial products company’s stock after selling 15,159 shares during the period. Bridgewater Associates LP’s holdings in Mueller Industries were worth $3,066,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Mueller Industries by 5.1% in 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 acquiring an additional 4,477 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Mueller Industries by 24.0% during the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after buying an additional 21,404 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Mueller Industries during the 1st quarter worth $267,000. Boston Partners acquired a new stake in Mueller Industries in the first quarter valued at about $1,325,000. Finally, CWM LLC grew its position in Mueller Industries by 113.8% in the second quarter. CWM LLC now owns 1,768 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 941 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 0.1 %

MLI stock opened at $80.77 on Friday. The stock has a market capitalization of $9.19 billion, a P/E ratio of 15.70 and a beta of 1.01. The firm has a 50-day moving average price of $80.53 and a 200-day moving average price of $69.07. Mueller Industries, Inc. has a 12 month low of $40.69 and a 12 month 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 for the quarter, beating 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 company’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. Mueller Industries’s payout ratio is presently 15.53%.

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.