Legal & General Group Plc Sells 138,609 Shares of Mueller Industries, Inc. (NYSE:MLI)

Legal & General Group Plc trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 37.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 233,098 shares of the industrial products company's stock after selling 138,609 shares during the quarter. Legal & General Group Plc owned approximately 0.20% of Mueller Industries worth $18,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new stake in Mueller Industries in the 4th quarter worth approximately $32,000. Westside Investment Management Inc. acquired a new stake in shares of Mueller Industries in the third quarter worth $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Mueller Industries during the 4th quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries in the 4th quarter valued at $53,000. Finally, City State Bank bought a new position in Mueller Industries in the 4th quarter worth $58,000. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Down 0.2 %

MLI stock traded down $0.14 during mid-day trading on Friday, reaching $70.79. 2,817,317 shares of the stock traded hands, compared to its average volume of 930,399. The business has a 50-day moving average of $77.53 and a two-hundred day moving average of $79.81. The firm has a market capitalization of $7.84 billion, a PE ratio of 13.33 and a beta of 0.96. Mueller Industries, Inc. has a 52 week low of $51.98 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio is currently 18.83%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company'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 value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Mueller Industries 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.