Fuller & Thaler Asset Management Inc. Sells 627,632 Shares of Mueller Industries, Inc. (NYSE:MLI)

Fuller & Thaler Asset Management Inc. trimmed its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 26.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,708,209 shares of the industrial products company's stock after selling 627,632 shares during the period. Fuller & Thaler Asset Management Inc. owned about 1.50% of Mueller Industries worth $135,563,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MLI. New Age Alpha Advisors LLC bought a new position in Mueller Industries in the 4th quarter valued at $32,000. Westside Investment Management Inc. acquired a new stake in shares of Mueller Industries in the third quarter valued at $41,000. SBI Securities Co. Ltd. bought a new position in shares of Mueller Industries in the fourth quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries during the 4th quarter worth about $53,000. Finally, City State Bank acquired a new stake in Mueller Industries in the 4th quarter valued at about $58,000. 94.50% of the stock is owned by institutional investors.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $70.40 on Wednesday. The company's 50 day simple moving average is $77.11 and its 200 day simple moving average is $79.82. The firm has a market capitalization of $7.80 billion, a P/E ratio of 13.26 and a beta of 0.96. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.25 dividend. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Friday, March 14th. Mueller Industries's payout ratio is currently 18.83%.

Insider Buying and Selling

In related news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Company 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.

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