Epoch Investment Partners Inc. Sells 447,072 Shares of Mueller Industries, Inc. (NYSE:MLI)

Epoch Investment Partners Inc. lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 70.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 185,140 shares of the industrial products company's stock after selling 447,072 shares during the period. Epoch Investment Partners Inc. owned 0.16% of Mueller Industries worth $14,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MLI. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries during the fourth quarter worth approximately $32,000. Westside Investment Management Inc. acquired a new stake in shares of Mueller Industries during the 3rd quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new position in shares of Mueller Industries in the 4th quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries during the fourth quarter worth about $53,000. Finally, City State Bank bought a new position in Mueller Industries in the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of NYSE MLI traded down $0.71 during mid-day trading on Friday, hitting $73.27. 199,461 shares of the stock traded hands, compared to its average volume of 925,793. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81. The firm has a 50 day simple moving average of $76.79 and a two-hundred day simple moving average of $79.79. The company has a market cap of $8.11 billion, a PE ratio of 13.79 and a beta of 0.96.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's payout ratio is 18.83%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value 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. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

Mueller Industries Profile

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.