FIL Ltd reduced its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 50.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,215 shares of the industrial products company's stock after selling 153,371 shares during the quarter. FIL Ltd owned 0.13% of Mueller Industries worth $11,762,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of MLI. Arizona State Retirement System raised its position in shares of Mueller Industries by 0.5% during the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock worth $2,480,000 after buying an additional 170 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Mueller Industries by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock worth $274,000 after purchasing an additional 174 shares in the last quarter. Caprock Group LLC lifted its position in Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock worth $674,000 after purchasing an additional 194 shares during the period. Kestra Investment Management LLC increased its position in shares of Mueller Industries by 7.7% during the 4th quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 218 shares during the period. Finally, Addison Capital Co raised its stake in shares of Mueller Industries by 0.5% in the 4th quarter. Addison Capital Co now owns 51,325 shares of the industrial products company's stock worth $4,073,000 after buying an additional 234 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Mueller Industries
In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on 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 directly owns 56,098 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company's stock.
Mueller Industries Trading Down 0.1 %
MLI stock traded down $0.10 during trading hours on Tuesday, hitting $73.64. 710,433 shares of the stock traded hands, compared to its average volume of 915,072. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The stock has a 50-day simple moving average of $78.27 and a 200 day simple moving average of $79.95. The company has a market cap of $8.16 billion, a P/E ratio of 13.87 and a beta of 0.96.
Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping analysts' consensus estimates 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 was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.25 dividend. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. Mueller Industries's dividend payout ratio is presently 18.83%.
About Mueller Industries
(
Free Report)
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.
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