Mueller Industries, Inc. (NYSE:MLI) Shares Sold by New Vernon Capital Holdings II LLC

New Vernon Capital Holdings II LLC decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 35.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,834 shares of the industrial products company's stock after selling 3,769 shares during the quarter. Mueller Industries makes up approximately 0.3% of New Vernon Capital Holdings II LLC's portfolio, making the stock its 23rd biggest position. New Vernon Capital Holdings II LLC's holdings in Mueller Industries were worth $542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. First Trust Advisors LP raised its stake in Mueller Industries by 5.6% during the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after acquiring an additional 327,479 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after purchasing an additional 933,498 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after purchasing an additional 117,327 shares during the period. William Blair Investment Management LLC purchased a new position in Mueller Industries during the 4th quarter worth approximately $201,376,000. Finally, FMR LLC increased its position in Mueller Industries by 79.2% during the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after buying an additional 845,031 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Trading Up 2.4 %

MLI stock opened at $73.96 on Friday. The company has a market capitalization of $8.19 billion, a P/E ratio of 13.93 and a beta of 0.96. The business has a 50 day simple moving average of $76.79 and a 200-day simple moving average of $79.79. Mueller Industries, Inc. has a twelve month low of $53.53 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's payout ratio is 18.83%.

Insider Buying and Selling 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 value of $798,100.00. Following the transaction, the director now directly owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by company 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.

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