Prudential PLC Reduces Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Prudential PLC trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 28.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,687 shares of the industrial products company's stock after selling 14,176 shares during the quarter. Prudential PLC's holdings in Mueller Industries were worth $2,832,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MLI. New Age Alpha Advisors LLC acquired a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $32,000. Westside Investment Management Inc. acquired a new stake in shares of Mueller Industries during the third quarter worth about $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Mueller Industries during the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mueller Industries during the 4th quarter valued at approximately $53,000. Finally, City State Bank acquired a new stake in Mueller Industries during the 4th quarter worth approximately $58,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm's stock in a transaction that occurred on 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 trade represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

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Mueller Industries Price Performance

Shares of NYSE:MLI traded up $1.63 during trading on Friday, reaching $74.24. The company had a trading volume of 704,260 shares, compared to its average volume of 914,304. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81. The stock's fifty day moving average price is $78.36 and its 200 day moving average price is $79.88. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 13.98 and a beta of 0.96.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.35%. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is presently 18.83%.

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.