O Shaughnessy Asset Management LLC Sells 4,715 Shares of Mueller Industries, Inc. (NYSE:MLI)

O Shaughnessy Asset Management LLC trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 2.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,686 shares of the industrial products company's stock after selling 4,715 shares during the period. O Shaughnessy Asset Management LLC owned 0.15% of Mueller Industries worth $13,863,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC acquired a new stake in shares of Mueller Industries in the fourth quarter valued at $32,000. Westside Investment Management Inc. acquired a new stake in Mueller Industries in the 3rd quarter valued at about $41,000. SBI Securities Co. Ltd. bought a new position in shares of Mueller Industries in the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries during the fourth quarter worth approximately $53,000. Finally, City State Bank bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $58,000. Institutional investors own 94.50% of the company's stock.

Wall Street Analysts Forecast Growth

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 report on Wednesday, December 11th.

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Mueller Industries Price Performance

Shares of NYSE MLI traded down $5.27 during mid-day trading on Thursday, hitting $74.12. The company's stock had a trading volume of 426,262 shares, compared to its average volume of 895,589. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The company's fifty day simple moving average is $79.66 and its 200-day simple moving average is $79.91. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 13.99 and a beta of 0.99.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

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

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction dated 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 sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company's stock.

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.