Mutual of America Capital Management LLC Cuts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Mutual of America Capital Management LLC cut its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 14.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 239,543 shares of the industrial products company's stock after selling 40,501 shares during the period. Mutual of America Capital Management LLC owned approximately 0.21% of Mueller Industries worth $17,750,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Mueller Industries in the 2nd quarter worth approximately $26,000. Federated Hermes Inc. acquired a new stake in shares of Mueller Industries in the second quarter worth $28,000. Opal Wealth Advisors LLC purchased a new position in shares of Mueller Industries during the second quarter worth $30,000. GAMMA Investing LLC lifted its position in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 146 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Mueller Industries by 61.7% in the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 369 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Trading Down 1.6 %

Shares of NYSE MLI traded down $1.47 during trading on Friday, reaching $88.68. 719,092 shares of the company traded hands, compared to its average volume of 879,449. The stock has a market cap of $10.09 billion, a P/E ratio of 17.22 and a beta of 1.01. The firm's fifty day simple moving average is $77.35 and its 200 day simple moving average is $67.20. Mueller Industries, Inc. has a 12-month low of $40.43 and a 12-month high of $96.81.

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

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries's dividend payout ratio is currently 15.53%.

Insider Buying and Selling

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This represents a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction that occurred 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 owns 94,914 shares of the company's stock, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

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.