Sei Investments Co. Reduces Stake in Mueller Industries, Inc. (NYSE:MLI)

Sei Investments Co. lowered its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 18.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,831 shares of the industrial products company's stock after selling 22,223 shares during the period. Sei Investments Co. owned about 0.09% of Mueller Industries worth $7,684,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MLI. William Blair Investment Management LLC purchased a new position in shares of Mueller Industries in the fourth quarter worth approximately $201,376,000. Allianz Asset Management GmbH raised its position in Mueller Industries by 135.7% in the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company's stock worth $40,341,000 after acquiring an additional 292,697 shares during the period. Four Tree Island Advisory LLC purchased a new position in shares of Mueller Industries during the 4th quarter worth $19,376,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Mueller Industries by 77.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company's stock valued at $29,152,000 after acquiring an additional 171,671 shares during the period. Finally, Barclays PLC increased its stake in shares of Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after purchasing an additional 152,780 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

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Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the 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 completion of the transaction, the director now directly owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company's stock.

Mueller Industries Stock Performance

Shares of NYSE MLI traded down $5.30 during midday trading on Thursday, reaching $74.10. The stock had a trading volume of 831,992 shares, compared to its average volume of 898,584. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 13.95 and a beta of 0.99. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The stock has a 50-day moving average of $79.51 and a 200-day moving average of $79.87.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 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 of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.35%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is presently 18.83%.

Analyst Ratings Changes

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

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.