Bridgewater Advisors Inc. Sells 3,523 Shares of Mueller Industries, Inc. (NYSE:MLI)

Bridgewater Advisors Inc. decreased its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 52,750 shares of the industrial products company's stock after selling 3,523 shares during the period. Bridgewater Advisors Inc.'s holdings in Mueller Industries were worth $4,254,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock worth $329,830,000 after purchasing an additional 139,406 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company's stock worth $108,907,000 after acquiring an additional 315,490 shares during the last quarter. FMR LLC raised its holdings in shares of Mueller Industries by 2.6% in the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock valued at $79,039,000 after acquiring an additional 27,399 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of Mueller Industries by 1.6% during the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock valued at $69,605,000 after acquiring an additional 14,729 shares during the last quarter. Finally, Fiera Capital Corp purchased a new position in shares of Mueller Industries during the third quarter worth about $35,552,000. Institutional investors own 94.50% of the company's stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price on the stock in a research note on Wednesday, December 11th.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares of the company's stock, valued at $7,886,404.26. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Mueller Industries Stock Up 0.2 %

NYSE:MLI traded up $0.13 during midday trading on Monday, hitting $81.98. The company had a trading volume of 810,906 shares, compared to its average volume of 854,798. The company has a market capitalization of $9.32 billion, a PE ratio of 15.92 and a beta of 1.00. Mueller Industries, Inc. has a 52-week low of $45.20 and a 52-week high of $96.81. The stock's fifty day moving average price is $82.30 and its 200-day moving average price is $75.21.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.16. The firm had revenue of $997.80 million during the quarter, compared to analysts' expectations of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. Mueller Industries's revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries's dividend payout ratio (DPR) is presently 15.53%.

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.