Bridgewater Associates LP Trims Position in Mueller Industries, Inc. (NYSE:MLI)

Bridgewater Associates LP trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 26.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,381 shares of the industrial products company's stock after selling 15,159 shares during the quarter. Bridgewater Associates LP's holdings in Mueller Industries were worth $3,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Mueller Industries by 5.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 92,346 shares of the industrial products company's stock worth $4,981,000 after buying an additional 4,477 shares during the period. Janus Henderson Group PLC grew its holdings in 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 valued at $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 first quarter valued at about $267,000. Boston Partners purchased a new stake in shares of Mueller Industries in the first quarter worth about $1,325,000. Finally, CWM LLC grew its stake in Mueller Industries by 113.8% during 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 in the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries 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 sale, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

Mueller Industries stock traded down $0.06 during mid-day trading on Friday, hitting $80.77. 694,802 shares of the company traded hands, compared to its average volume of 2,015,981. Mueller Industries, Inc. has a one year low of $40.69 and a one year high of $96.81. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 15.68 and a beta of 1.01. The stock has a fifty day moving average price of $80.53 and a 200-day moving average price of $69.14.

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

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, December 6th. Mueller Industries's dividend payout ratio (DPR) 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.