Seizert Capital Partners LLC Decreases Holdings in Mueller Industries, Inc. (NYSE:MLI)

Seizert Capital Partners LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 31.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,741 shares of the industrial products company's stock after selling 67,561 shares during the quarter. Seizert Capital Partners LLC owned about 0.13% of Mueller Industries worth $10,799,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MLI. Vanguard Group Inc. increased its stake in Mueller Industries by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company's stock worth $666,524,000 after acquiring an additional 59,060 shares during the period. LSV Asset Management raised its position in Mueller Industries by 44.1% during the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company's stock worth $119,271,000 after purchasing an additional 641,114 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Mueller Industries by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company's stock worth $66,988,000 after buying an additional 7,756 shares during the period. Fiera Capital Corp bought a new stake in shares of Mueller Industries in the 3rd quarter valued at about $35,552,000. Finally, Vest Financial LLC raised its position in shares of Mueller Industries by 18.2% during the second quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company's stock worth $23,597,000 after acquiring an additional 63,828 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI traded down $1.47 during trading hours on Friday, hitting $88.68. 719,092 shares of the stock were exchanged, compared to its average volume of 879,449. Mueller Industries, Inc. has a fifty-two week low of $40.43 and a fifty-two week high of $96.81. The business has a 50-day moving average of $77.35 and a 200-day moving average of $67.20. The firm has a market capitalization of $10.09 billion, a P/E ratio of 17.22 and a beta of 1.01.

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

Mueller Industries Dividend Announcement

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

Insider Buying and Selling

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was 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 directly owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction 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 directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This represents a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

About Mueller Industries

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.