F M Investments LLC Sells 171,042 Shares of Mueller Industries, Inc. (NYSE:MLI)

F M Investments LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 68.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,437 shares of the industrial products company's stock after selling 171,042 shares during the quarter. F M Investments LLC owned 0.07% of Mueller Industries worth $6,383,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Mueller Industries during the fourth quarter valued at $300,000. Merit Financial Group LLC purchased a new stake in Mueller Industries during the fourth quarter valued at about $287,000. Rhumbline Advisers boosted its holdings in shares of Mueller Industries by 13.7% in the fourth quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock worth $28,895,000 after buying an additional 43,893 shares during the period. US Bancorp DE increased its position in shares of Mueller Industries by 3.0% in the fourth quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after acquiring an additional 537 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of Mueller Industries by 6.5% during the fourth quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company's stock valued at $16,081,000 after acquiring an additional 12,450 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

Shares of NYSE:MLI traded up $0.21 during mid-day trading on Tuesday, hitting $73.95. The stock had a trading volume of 178,539 shares, compared to its average volume of 913,005. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The company has a market cap of $8.19 billion, a PE ratio of 13.93 and a beta of 0.96. The company's 50 day moving average is $78.27 and its 200-day moving average is $79.95.

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

Mueller Industries Increases Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries's dividend payout ratio is 18.83%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The shares were 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 $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.80% of the stock is currently owned by 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.