Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC decreased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,055 shares of the industrial products company's stock after selling 4,730 shares during the period. Mueller Industries accounts for 1.3% of Uncommon Cents Investing LLC's investment portfolio, making the stock its 16th largest holding. Uncommon Cents Investing LLC's holdings in Mueller Industries were worth $4,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLI. New York State Common Retirement Fund boosted its holdings in shares of Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company's stock valued at $30,056,000 after acquiring an additional 68,633 shares during the period. State Street Corp increased its stake in Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock valued at $329,830,000 after purchasing an additional 139,406 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company's stock valued at $625,000 after buying an additional 7,843 shares during the last quarter. Creative Planning grew its holdings in shares of Mueller Industries by 36.5% during the third quarter. Creative Planning now owns 40,081 shares of the industrial products company's stock worth $2,970,000 after buying an additional 10,714 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in Mueller Industries by 42.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 46,747 shares of the industrial products company's stock valued at $3,464,000 after acquiring an additional 13,933 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now owns 17,733 shares of the company's stock, valued at $1,632,145.32. This represents a 45.83 % 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. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred 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 transaction, the director now owns 94,914 shares of the company's stock, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.

Analyst Ratings Changes

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

Mueller Industries Stock Performance

NYSE:MLI traded up $0.13 during mid-day trading on Monday, reaching $81.98. The stock had a trading volume of 810,906 shares, compared to its average volume of 854,798. The firm has a market capitalization of $9.32 billion, a price-to-earnings ratio of 15.92 and a beta of 1.00. The business has a 50 day simple moving average of $82.30 and a 200 day simple moving average of $75.21. Mueller Industries, Inc. has a twelve month low of $45.20 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data 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. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The firm had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. The company's quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. Mueller Industries's dividend payout ratio (DPR) is presently 15.53%.

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.