Mueller Industries, Inc. (NYSE:MLI) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,895,263 shares of the industrial products company's stock after selling 3,233 shares during the period. American Century Companies Inc. owned approximately 1.67% of Mueller Industries worth $150,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its position in shares of Mueller Industries by 3.2% in the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock valued at $329,830,000 after purchasing an additional 139,406 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Mueller Industries in the 4th quarter valued at $201,376,000. Charles Schwab Investment Management Inc. lifted its position in Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company's stock valued at $108,907,000 after purchasing an additional 315,490 shares during the period. FMR LLC boosted its position in shares of Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock worth $79,039,000 after purchasing an additional 27,399 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Mueller Industries by 1.6% in the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock worth $69,605,000 after acquiring an additional 14,729 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

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Mueller Industries Stock Performance

MLI stock traded down $1.32 during trading on Thursday, hitting $77.57. The stock had a trading volume of 613,099 shares, compared to its average volume of 834,023. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 14.61 and a beta of 0.99. The company's 50 day moving average price is $80.11 and its two-hundred day moving average price is $79.57. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.25 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. Mueller Industries's dividend payout ratio (DPR) is currently 18.83%.

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price on the stock in a research note on Wednesday, December 11th.

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.