Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 83.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,870 shares of the industrial products company's stock after selling 14,130 shares during the quarter. Everence Capital Management Inc.'s holdings in Mueller Industries were worth $228,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock worth $41,000 after acquiring an additional 146 shares during the period. Kapitalo Investimentos Ltda lifted its holdings in shares of Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company's stock worth $340,000 after purchasing an additional 156 shares during the period. GM Advisory Group LLC grew its position in 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 valued at $281,000 after buying an additional 192 shares during the last quarter. Hsbc Holdings PLC increased its stake in Mueller Industries by 1.8% in the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company's stock valued at $757,000 after buying an additional 233 shares during the period. Finally, Xponance Inc. raised its position in Mueller Industries by 4.4% during the 2nd quarter. Xponance Inc. now owns 7,123 shares of the industrial products company's stock worth $406,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

Mueller Industries Stock Up 0.7 %

Shares of Mueller Industries stock traded up $0.59 during trading on Thursday, reaching $79.71. The company's stock had a trading volume of 828,548 shares, compared to its average volume of 613,189. Mueller Industries, Inc. has a 12-month low of $44.39 and a 12-month high of $96.81. The company has a market capitalization of $9.07 billion, a P/E ratio of 15.48 and a beta of 1.00. The business has a 50 day moving average price of $83.55 and a 200-day moving average price of $73.78.

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

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.00%. Mueller Industries's payout ratio is 15.53%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the transaction, the director now owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the company's stock in a transaction 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 completion of 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 owned by corporate insiders.

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.