Mueller Industries, Inc. (NYSE:MLI) Position Cut by Martingale Asset Management L P

Martingale Asset Management L P lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,260 shares of the industrial products company's stock after selling 16,813 shares during the period. Martingale Asset Management L P owned about 0.06% of Mueller Industries worth $5,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Captrust Financial Advisors acquired a new position in Mueller Industries in the 3rd quarter worth $215,000. Quantinno Capital Management LP lifted its stake in shares of Mueller Industries by 18.4% in the third quarter. Quantinno Capital Management LP now owns 5,153 shares of the industrial products company's stock worth $382,000 after acquiring an additional 801 shares in the last quarter. Stifel Financial Corp boosted its holdings in Mueller Industries by 87.8% in the third quarter. Stifel Financial Corp now owns 185,590 shares of the industrial products company's stock valued at $13,752,000 after purchasing an additional 86,748 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in Mueller Industries during the 3rd quarter valued at approximately $245,000. Finally, XTX Topco Ltd purchased a new stake in Mueller Industries during the 3rd quarter worth approximately $874,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business's 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 in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company's stock.

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Mueller Industries Stock Down 0.0 %

Shares of Mueller Industries stock traded down $0.01 on Tuesday, hitting $73.73. 157,234 shares of the company's stock traded hands, compared to its average volume of 912,930. The firm's 50-day moving average is $78.27 and its 200 day moving average is $79.95. The stock has a market cap of $8.17 billion, a P/E ratio of 13.89 and a beta of 0.96. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results 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 return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. 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. Mueller Industries's payout ratio is 18.83%.

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.