Quantinno Capital Management LP Has $382,000 Position in Mueller Industries, Inc. (NYSE:MLI)

Quantinno Capital Management LP lifted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 18.4% during the third quarter, HoldingsChannel reports. The firm owned 5,153 shares of the industrial products company’s stock after purchasing an additional 801 shares during the period. Quantinno Capital Management LP’s holdings in Mueller Industries were worth $382,000 as of its most recent filing with the SEC.

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

Mueller Industries Stock Down 0.6 %

Shares of MLI stock opened at $82.48 on Monday. The company has a market capitalization of $9.38 billion, a P/E ratio of 16.02 and a beta of 0.99. Mueller Industries, Inc. has a 12-month low of $44.03 and a 12-month high of $96.81. The firm has a 50-day moving average price of $82.18 and a 200 day moving average price of $70.78.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS 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 for the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, December 6th. Mueller Industries’s payout ratio is presently 15.53%.

Analyst Ratings Changes

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Wednesday, December 11th.

Insider Activity at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction on Thursday, November 21st. The stock was 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 approximately $1,632,145.32. This trade represents a 45.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the company’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 transaction, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

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.