Schwab Charles Investment Management Inc. grew its stake in Mueller Industries, Inc. (NYSE:MLI) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 539,084 shares of the industrial products company’s stock after acquiring an additional 66,868 shares during the period. Schwab Charles Investment Management Inc. owned 0.93% of Mueller Industries worth $18,841,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Amalgamated Bank raised its stake in shares of Mueller Industries by 5.2% during the second quarter. Amalgamated Bank now owns 7,949 shares of the industrial products company’s stock worth $242,000 after buying an additional 394 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Mueller Industries by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 44,075 shares of the industrial products company’s stock worth $1,342,000 after buying an additional 563 shares during the last quarter. Aperio Group LLC raised its stake in shares of Mueller Industries by 10.9% during the second quarter. Aperio Group LLC now owns 14,624 shares of the industrial products company’s stock worth $445,000 after buying an additional 1,434 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in shares of Mueller Industries by 5.0% during the second quarter. Thrivent Financial For Lutherans now owns 49,170 shares of the industrial products company’s stock worth $1,497,000 after buying an additional 2,330 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of Mueller Industries by 5.7% during the third quarter. American International Group Inc. now owns 45,197 shares of the industrial products company’s stock worth $1,580,000 after buying an additional 2,451 shares during the last quarter. 90.16% of the stock is owned by institutional investors.
In other news, Director Charles P. Herzog, Jr. bought 3,624 shares of the stock in a transaction on Friday, October 27th. The stock was purchased at an average price of $34.72 per share, with a total value of $125,825.28. Following the completion of the purchase, the director now owns 3,624 shares of the company’s stock, valued at $125,825.28. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $33.15, for a total transaction of $66,300.00. Following the completion of the sale, the director now directly owns 45,607 shares of the company’s stock, valued at approximately $1,511,872.05. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.
Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.39 earnings per share for the quarter. The business had revenue of $550.36 million during the quarter. Mueller Industries had a net margin of 4.39% and a return on equity of 15.68%.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Thursday, November 30th. Mueller Industries’s dividend payout ratio (DPR) is 23.67%.
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About Mueller Industries
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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