LSV Asset Management Sells 555,209 Shares of Mueller Industries, Inc. (NYSE:MLI)

LSV Asset Management lowered its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 18.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,427,859 shares of the industrial products company's stock after selling 555,209 shares during the period. LSV Asset Management owned 2.13% of Mueller Industries worth $192,675,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. William Blair Investment Management LLC bought a new position in shares of Mueller Industries during the fourth quarter valued at $201,376,000. Norges Bank purchased a new stake in shares of Mueller Industries during the 4th quarter valued at about $117,351,000. Invesco Ltd. raised its position in Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after acquiring an additional 933,498 shares during the period. FMR LLC grew its holdings in Mueller Industries by 79.2% during 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 during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Mueller Industries by 59.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 844,287 shares of the industrial products company's stock worth $67,003,000 after acquiring an additional 316,095 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Down 0.2 %

Shares of MLI traded down $0.13 during trading hours on Tuesday, reaching $73.61. 198,779 shares of the stock traded hands, compared to its average volume of 913,064. The company's 50-day moving average price is $78.27 and its two-hundred day moving average price is $79.95. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The company has a market cap of $8.15 billion, a P/E ratio of 13.86 and a beta of 0.96.

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Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.25 dividend. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, March 14th. Mueller Industries's dividend payout ratio (DPR) is presently 18.83%.

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company's stock.

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.