Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Seizert Capital Partners LLC

Seizert Capital Partners LLC lessened its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,843 shares of the industrial products company's stock after selling 72,898 shares during the quarter. Seizert Capital Partners LLC owned about 0.06% of Mueller Industries worth $5,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Atria Investments Inc raised its stake in Mueller Industries by 10.4% during the 4th quarter. Atria Investments Inc now owns 13,681 shares of the industrial products company's stock valued at $1,086,000 after purchasing an additional 1,285 shares during the period. State of Michigan Retirement System bought a new stake in Mueller Industries during the 4th quarter valued at approximately $2,135,000. SBI Securities Co. Ltd. bought a new stake in Mueller Industries in the 4th quarter worth approximately $47,000. Jones Financial Companies Lllp increased its stake in Mueller Industries by 204.8% in the 4th quarter. Jones Financial Companies Lllp now owns 890 shares of the industrial products company's stock worth $71,000 after acquiring an additional 598 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Mueller Industries by 178.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,075 shares of the industrial products company's stock worth $166,000 after acquiring an additional 1,330 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Analyst Upgrades and Downgrades

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 note on Wednesday, December 11th.

Mueller Industries Stock Performance

NYSE:MLI traded up $1.86 during trading hours on Wednesday, reaching $80.06. The stock had a trading volume of 1,220,281 shares, compared to its average volume of 822,728. Mueller Industries, Inc. has a 52 week low of $49.95 and a 52 week high of $96.81. The company has a 50 day moving average price of $80.13 and a two-hundred day moving average price of $78.48. The stock has a market capitalization of $9.07 billion, a PE ratio of 15.08 and a beta of 0.98.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries's payout ratio is presently 18.83%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company's stock.

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.