Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,378,306 shares of the industrial products company's stock after selling 91,430 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.21% of Mueller Industries worth $109,382,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MLI. Fiera Capital Corp purchased a new position in shares of Mueller Industries during the 3rd quarter valued at approximately $35,552,000. Allianz Asset Management GmbH grew its position in Mueller Industries by 135.7% during the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company's stock valued at $40,341,000 after buying an additional 292,697 shares during the period. Four Tree Island Advisory LLC purchased a new position in Mueller Industries in the fourth quarter valued at $19,376,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Mueller Industries by 77.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company's stock worth $29,152,000 after acquiring an additional 171,671 shares during the period. Finally, Barclays PLC boosted its stake in shares of Mueller Industries by 343.9% during the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after acquiring an additional 152,780 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was 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 $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Mueller Industries Stock Performance

Shares of MLI stock traded down $3.31 on Wednesday, reaching $78.72. 772,535 shares of the company were exchanged, compared to its average volume of 829,700. Mueller Industries, Inc. has a 1 year low of $50.84 and a 1 year high of $96.81. The business has a 50-day moving average price of $80.22 and a 200 day moving average price of $78.89. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 14.84 and a beta of 0.99.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is presently 18.83%.

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.