Guggenheim Capital LLC Sells 16,721 Shares of Mueller Industries, Inc. (NYSE:MLI)

Guggenheim Capital LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 76.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,110 shares of the industrial products company's stock after selling 16,721 shares during the quarter. Guggenheim Capital LLC's holdings in Mueller Industries were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MLI. Invesco Ltd. lifted its position in Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after buying an additional 933,498 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Mueller Industries by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock worth $214,763,000 after purchasing an additional 117,327 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $201,376,000. FMR LLC increased its holdings in shares of Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares in the last quarter. Finally, Norges Bank bought a new position in Mueller Industries in the 4th quarter worth approximately $117,351,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Down 1.2 %

Shares of MLI stock opened at $73.06 on Friday. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 13.76 and a beta of 0.96. The stock has a 50-day moving average price of $76.60 and a 200 day moving average price of $79.85. Mueller Industries, Inc. has a 12 month low of $53.53 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping 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 return on equity of 22.97% and a net margin of 16.05%.

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by 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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